Surya Roshni has targeted a revenue of Rs. 1500 crore from its lighting business in the next two to three years, in a bid to establish itself as a market leader.
The market is presently led by Phillips and Surya Roshni ranks behind it. With the focus of the lighting business shifting to LED products, the company is gearing up to release new products in the market such as LED lamps, LED tube lights and down-lighters using top quality LED chips from Nichia, Japan.
“Surya’s LED lamp is completely mercury-free and saves up to 96 per cent energy. The company is looking at Rs. 250 crore revenue from the LED lighting segment alone and an overall Rs. 1500 crore from the entire lighting business over the next 2-3 years. In the current financial year, the company expects to generate Rs. 1000 crore,” Surya Roshni managing director, Raju Bista said in New Delhi.
Presently, the company commands around 25 per cent market share in the Indian lighting industry. Mr. Bista said that the company was in the process of investing Rs. 150 crore in expansion and development of various manufacturing plants.
Talking about the effect of the slowdown on expansion plans and the growth of the company, Mr. Bista said that for the last three years, the company has been growing at 20 to 22 per cent. “We are presently exporting products to 44 countries across the globe including Britain, Egypt, South Africa, Morocco and Saudi Arabia. We have recently started exports to Brazil, he added.
The company has a wide marketing network of dealer and retailer outlets. It has built up a strong sales network of 30 branch offices, over 1,500 dealers and more than 200,000 retailers.