Dharampal Premchand picks up stake in A'bad ceramic company

The Delhi-based Dharampal Premchand group has picked up 30 per cent stake in an Ahmedabad-based ceramic company Pearl & Shell Ceramics Ltd for an undisclosed amount.

The Dharampal Premchand group manages brands like Baba, Tulsi, Pass Pass, Catch, and Rajnigandha, and plans to diversify.

Pearl & Shell Ceramics plans to invest in the region of Rs 250 crore over the next few years for setting up new facilities as well as expanding its existing capacities in Gujarat. The company acquired a sick ceramic unit in Himmatnagar last year.

"We have turned the unit around by changing the machinery and making some modifications in the product range," says Praful Gattani, president (operations) of Pearl & Shell Ceramics.

The company is also setting up a large greenfield facility in Jhagadia, which will have a 100,000 sft capacity. "We have already acquired land and plan to expand this unit in future," he said.

Confirming the development, Gattani said, "Dharampal Premchand group has picked up a stake in the company." Industry sources say the Delhi-based company is diversifying into ceramics business.