August 30, 2014 1:36 PM ET

Semiconductors and Semiconductor Equipment

Company Overview of Surana Ventures Limited

Company Overview

Surana Ventures Limited manufactures, assembles, sells, and exports solar energy systems primarily in India. The company offers solar photovoltaic modules, solar street lights, solar lanterns, solar emergency lights, solar charge controllers, and solar home lighting products. The company produces photovoltaic solar modules with power outputs ranging from 3 to 230 Wp. Its solar photovoltaic modules can also be used for rooftop installations, power plants, or solar farms. In addition, the company is involved in the generation of wind electricity with an installed capacity of 3.40 MW comprising of 3 wind turbines in Tamil Nadu and Maharashtra. Surana Ventures Limited was incorporated in 2006 an...

Surya Towers

5th Floor

Sardar Patel Road

Secunderabad,  500003

India

Founded in 2006

95 Employees

Phone:

91 40 2784 5119

Fax:

91 40 2784 8851

Key Executives for Surana Ventures Limited

Director of Finance & Technical and Executive Director
Age: 28
Total Annual Compensation: $2.4M
Compensation as of Fiscal Year 2013.

Surana Ventures Limited Key Developments

Surana Ventures Limited Announces Board Changes

Surana Ventures Limited announced at its board meeting held on August 11, 2014 that the shareholders approved the appointment of Shri A. Ramaiah as Additional Executive Director and resignation of Shri M. V. Sharath Babu as Executive Director of the company.

Surana Ventures Limited Reports Unaudited Standalone Earnings Results for the First Quarter Ended June 30, 2014

Surana Ventures Limited reported unaudited standalone earnings results for the first quarter ended June 30, 2014. For the quarter, the company reported net sales of INR 301.943 million against INR 455.416 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 36.855 million against INR 24.747 million a year ago. Profit from ordinary activities before tax was INR 30.399 million compared to INR 20.342 million for the same period a year ago. Net profit was INR 24.319 million or INR 0.99 basic and diluted earnings per share before and after extra ordinary items against INR 7.521 million or INR 0.31 basic and diluted earnings per share before and after extra ordinary items year ago.

Surana Ventures Plans To Raise $50 Million

Surana Ventures Limited (BSE:533298) plans to raise up to $50 million to part fund its expansion plans, including setting up a manufacturing unit and solar power farms. The Board of Directors of Surana Ventures has decided to raise these funds by way of issue of either Global Depository Receipts (GDRs), qualified institutional placement (QIPs) or redeemable preference shares. Narendra Surana, Managing Director of Surana Ventures, told Business Line, "The company expects to conclude the process of raising the funds to meet the expansion plans over the next two-three months."

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