Somany Ceramics Ltd, manufacturer of tiles, sanitaryware and bathroom fitting, will set up a greenfield project at Kadi, Gujarat in this financial year. The BSE and NSE listed company is also planning to expand its Kassar plant at an investment of Rs 45 crore.
"We are setting up a unit at Kadi and have bought a new piece of land for the same. However, the investment details cannot be discussed. We are also planning an expansion at our Haryana plant for glazed porcelain vitrified tiles. The expansion will augment the capacity of the plant to 3 million sq m per annum and will fetch revenue worth Rs 70 crore annually. The plant should be ready by June this year," said Abhishek Somany, joint managing director, Somany Ceramics Ltd.
At present company's production is 59 lakh sq m per annum. The company recently launched wall gliding tiles, which give a 3D effect as compared to the flat tiles available in the market.
"The wall gliding tiles emulate stones with perforation and sedation, which gives a visual impact because of the depth. This makes the tiles give out a 3D effect," Somany said.
By the year end 2011-12, Somany Ceramics Ltd. targets to achieve turnover of Rs. 850 crore. The company also plans to increase its retail outlets from 22 to 100 by the next year end. The company's turnover as on March 2010 was between Rs 550-570 crore, Somany said.
