Panchkula-based Stylam Industries, a leading manufacturer and exporter of high pressure laminates and high-tech adhesives, has embarked upon a Rs 60-crore expansion plan in laminates, exterior cladding and exterior flooring.
Satish Gupta, executive director, Stylam Industries said that the company has been more focused on the export market in the past few years and more than three-fourths of its output is exported -- to a jaw-dropping 80 countries.
Owing to changing trends in demand and design in Indian buildings, the scope for Stylam's products has increased manifold, he said. Growing awareness, higher disposable income and urbanisation have driven up the demand for laminates, exterior flooring and exterior cladding, since these products not only enhance the aesthetics of a building but are also cost-effective and long-lasting, Gupta said.
"Assessing the rapidly increasing demand for our products, we have tied up with channel partners in all major towns of India to offer speedy delivery to customers," said Gupta.
Stylam Industries was founded as a private limited company in 1991, and a mere four later, in 1995, it went public, listing on the BSE. Its sales turnover in 2014-15 was Rs 215 crore, and exports amounted to about Rs 172 crore, indicating its transformation from a small enterprise into a medium-sized one.
The company is putting up an 8,000-tonne hydraulic press of 6 x 14 feet, and three 4 x 8 feet production lines, which he said would be the first of its kind in terms of technology and innovation in the world of laminates. "This environment-friendly and energy conservation know-how will result in less carbon emission and less power consumption," Gupta added.
After this expansion, Stylam's production capacity will increase by 60 lakh sheets a year. The automated cutting edge technology will boost the quality of products and increase efficiency with less human intervention.
Though Stylam Industries is listed on the BSE, the expansion will be funded through internal accruals and bank borrowing. Since housing is undergoing a change even in the hinterland of India, the new technology would help provide a world-class product range at a low price to aspiring middle-class buyers, Gupta said.
The new hydraulic press will be fully operational by the end of 2015. This will make Stylam one of the largest manufacturers of laminates in Asia. The company is one of the world's top exporters, with a major presence in European markets.
An extended outreach in the Indian market, with the aim of growing the domestic business, will not make a dent on exports, as the total production will increase to match the demand on both fronts, Gupta said, adding: "We are looking at becoming the world number one and are close on the heels of becoming Asia's number one after the new facility becomes operational."
Meanwhile, the central government's 'Make in India' initiative has started helping the company in brand positioning. "Our foreign buyers now look at our products with more respect and better recognition," said Gupta.
Stylam Industries has one unit each at Panchkula and Ramgarh in Haryana and the new facility is coming at Raipurani, in the vicinity of the existing units.
