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CHENNAI:Surya Roshni, the largest manufacturer and exporter of GI pipes and flagship company of Surya group, is planning to set up a steel pipe plant and a lighting products facility in Shimoga, Karnataka.
Addressing a press conference here on Wednesday, Aravind Bansal, Deputy Managing Director, said the setting up of steel pipe plant and lighting unit with an outlay of Rs. 100 crore was part of the company's expansion plans in infrastructure, steel, cement, power, and PVC pipes in Gujarat, Madhya Pradesh, Chhattisgarh and Uttarakhand.
The group had recently had undertaken an expansion of Rs. 550 crore mainly in steel pipes for water, oil and gas and also for lighting which was expected to generate employment for over 6,000 people
The company was producing more than two-lakh tonne pipes. The company was exporting to 40 countries, including the U.S. and Europe.
In the year ended March 31, 2010, the company reported net sales of Rs. 1,938.93 crore against Rs. 1,690.59 crore in the corresponding period in the previous year. The net profit had improved to Rs. 45.17 crore from Rs. 21.54 crore. The board had recommended a dividend of Rs. 2 per share of Rs. 10 each for 2009-10.
Mr. Bansal was here in connection with the launching of company's programme to educate consumers on the hazards of using spurious pipes. He said spurious pipes would last for only two to three years as compared to 30 years for pipes produced as per prescribed norms. The sale of spurious pipes comprised over 30 per cent of the total steel pipe market.
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