Financial Daily from THE HINDU group of publications
Saturday, Mar 26, 2005
Financial Daily from THE HINDU group of publications Saturday, Mar 26, 2005 |
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Corporate
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New Projects RK Marble to invest Rs 25 cr on expansion, new facility Moumita Bakshi
New Delhi , March 25 RK Marble, which owns the brand Wonder Marble, plans to invest about Rs 25 crore in the coming financial year for expanding the existing capacity in its factory at Kishangarh (Rajasthan) and to set up a processing facility in Madhya Pradesh. "We plan to increase the production capacity in our Kishangarh factory to 18 lakh cubic feet from 12 lakh cubic feet. This will be expanded with an investment of about Rs 20 crore in the next financial year, and the amount will be funded from internal accruals," Mr Ravindra Singh Mohnot, Director RK Marble, said here. It also plans to invest Rs 5 crore to establish a processing facility at Majoli village in Madhya Pradesh with an initial capacity of two lakh cubic feet. The company owns two mining sites at Madhya Pradesh (Majoli mines) and Udaipur (Morwad), with a sole processing facility at Kishangarh. The marble sourced from Madhya Pradesh is also processed in the Kishangarh factory and sold under the brand name Wonder Marble. "By setting up a processing factory in MP, we will be able to tap a growing market in the State. We will also save on the cost of transporting the material for processing in our Rajasthan factory," he added. The company clocked a turnover of Rs 164 crore in 2003-04 and expects to close the current financial year with revenues of about Rs 215 crore. Mr Mohnot said a significant part of the marble from Morwad was sold to marble factories and marble traders, with about 10 per cent making it to the company's processing factory in Rajasthan to be sold as slabs. RK Marble has acquired orders from West Asia, Italy, the UK and Indonesia. It has associates in Dubai, Saudi Arabia and Qatar to cater to local needs. The major domestic market for RK Marble includes North India, Bangalore and Mumbai.
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