Murudeshwar embarks on expansion

Murudeshwar Ceramics, manufacturer of vitrified tiles, has embarked on an expansion into the manufacture of glazed ceramic tiles with a capacity of 24,000 square metres per day and vitrified tiles of 6,000 square metres per day.

According to company's managing director Satish R Shetty, the commercial phase of the manufacture of 12,000 square metres per day of glazed ceramic tiles commenced on January 1. The commercial production of the second phase of an additional capacity of 12,000 square metres per day is expected to commence from first quarter of the next financial year.

The company, with two popular tile products ? Naveen ceramic tiles and Naveen diamontile ? has two manufacturing plants for vitrified tiles at Hubli and at Karaikal in Pondicherry.

The company is expanding production capacity of vitrified tiles by 6,000 square metres per day at Karaikal, Pondicherry and it is expected to commence production on January 15.

"With rapid expansion, the company expects to maintain its lead in the vitrified tiles segment with 21,000 square metres per day and become a significant player in the glazed ceramic tiles segment," said Shetty.

The company manufactures large size vitrified tiles for corporate and institutional customers needs. The growth is expected to follow from the rapid growth in the construction and real estate sector, he added.

In the next few years, a massive government investment in the infrastructure sector is expected to provide a stimulus to the tile industry. All-round growth in the corporate and housing sector enables the tiles industry to maintain a growth rate of 20 - 25 per cent per annum, he further added.

Murudeshwar Ceramics has registered a turnover of Rs 95.08 crore for the half year ending September 30, 2005 as compared to Rs 86.26 crore in the corresponding period of the previous year.

Net profit of the company for the half year stood at Rs 11.25 crore as compared to Rs 6.55 crore, showing an earnings growth of 71 per cent over the previous year.