Financial Daily from THE HINDU group of publications
Tuesday, Aug 03, 2004
Financial Daily from THE HINDU group of publications Tuesday, Aug 03, 2004 |
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Corporate
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New Projects Kajaria Ceramics firms up plan to hike capacity Our Bureau
Kolkata , Aug. 2 KAJARIA Ceramics Ltd has firmed up plans to augment capacity at its Sikandrabad unit in Uttar Pradesh at an investment of Rs 50 crore. The capacity of the plant is being augmented to 9.5 million sq.m. per annum from six million sq.m. per annum currently. The expansion project, which is being funded through internal accruals and loans, is scheduled to be completed by March 2005. Speaking to newspersons, Mr P.K. Agarwal, Director in the Kajaria group, said that the company's two plants located at Sikandrabad and Gailpur in Rajasthan together have a capacity to manufacture 13.8 million sq.m. of ceramic floors and wall tiles. After the expansion, the combined capacity of the two plants would go up to 17.3 million sq.m. Besides addressing the requirements of the domestic market, these tiles are exported to countries in Europe, the Far East, West Asia, Africa and even Australia. Export earnings in the last fiscal are stated to be Rs 20 crore and the target for the current fiscal has been pegged higher at Rs 25 crore. Mr Agarwal said that the size of the ceramic tiles industry is estimated at Rs 2,800 crore. Of this, Rs 2,100 crore is in the organised sector. The industry has clocked a compounded average growth rate of 15 per cent in the past years and is bullish about faster growth in the years ahead in view of growth in the construction sector. On its part, Kajaria Ceramics is taking several measures to increase its market share from the current level of 13 per cent. The dealer network is being strengthened and 10 new European-style showrooms under the Kajaria Plus banner are being rolled out. According to Mr Agarwal, Kajaria Ceramics recorded a turnover of Rs 269.84 crore in 2003-04, up from Rs 239.01 crore the previous year. The turnover and net profit target for the current year has been pegged at Rs 300 crore and Rs 23 crore, respectively.
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