The decorative division of Greenply Industries is eyeing a Rs 400 crore turnover by March this year, registering a 40 per cent growth over last year, on the back of expansion of its distribution reach into tier II towns and cities.
According to Subir Palit, country head of the decorative division, Greenply Industries, the company is setting up a Rs 250 crore MDF unit at its Uttarakhand plant and a Rs 115 crore laminate plant in Himachal Pradesh. On completion of its ongoing as well as the proposed expansion plans, the company's annual plywood manufacturing capacity will stand enhanced to 24 million square metre, laminate capacity to 28.54 million square metre, particle board to two million square metre, decowood to 4.2 million square metre and MDF to 1,80,000 CBM.
“We are expanding our reach to tier II towns and cities to boost sales. Currently the laminates industry is Rs 1,200 crore, growing at 15 per cent. The organised sector contributes close to 45 per cent,” Palit said.
“We are also launching new decorative range in sync with changing consumer preferences. Also, to connect with architects and builders, we are organising various below-the-line activities,” Palit added.
Currently, the company has 9,600 retailers selling its products, which would also be doubled in one year.
