SRL plans Rs550 cr capacity expansion drive
Surya Roshni Limited (SRL), a company engaged in the manufacture of electrical bulbs, tube lights and steel pipes, is planning to invest approximately Rs550 crore to augment capacity at its plants across states, including Gujarat and Madhya Pradesh.
According to the company’s CMD, JP Agarwal, SRL is targeting an increase in its annual turnover from the present Rs1,750 crore to Rs5,000 crore over the next couple of years. The company’s export revenues had touched Rs300 crore last year, which it plans to scale up to Rs400 crore this year.
Agarwal further added that with a 60% growth rate, SRL was way ahead of the average industry growth rate of approximately 10%. On his plans to set up manufacturing units in the South, Agarwal maintained that work was on, but the project was likely to materialize only in the next financial year.