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Raja Simhan T.E.

Chennai , June 17

EVEREST Industries Ltd, manufacturerof fibre cement roofing under the brand name Everest, is targeting a revenue of Rs 500 crore in the next four years from Rs 227 crore now, according to the company's Executive Director (Marketing) Mr Manish Sanghi.

It is targeting a 20 per cent revenue growth every year, he told Business Line.

The company is expanding its production facilities. Recently it started a new manufacturing plant in Coimbatore to manufacture Everest Hi-Tech, a non-asbestos roofing product, at a cost of around Rs 15 crore. It is also setting up a plant in Nashik at a cost of Rs 25 crore, he said.

Everest has entered into a technical collaboration with Brasilit Ind e com Ltda, Brazil, a wholly owned company of Saint Gobain, for the manufacture of Everest Hi-Tech.

The Podanur plant has a production capacity of 5,000 tonnes a month and the company plans to achieve full capacity utilisation by the year-end, he said.

Everest is planning to launch Everest Hi-Tech across the country, which is witnessing a manufacturing boom and lot of investment is going into expansion as well as greenfield projects.

Since this product is economical compared to the colour coated metal sheets, both retail and industrial users can use it. The demand for this product in India would be about 15 million sq m a year, he said.

The Nashik plant will have a production capacity of 40,000 tonnes a year. The company has entered into a tie-up with Dansk Eternit of the FL Smidth, a Denmark-based Group with a turnover of euro 2 billion. The tie-up includes both technology transfer and a buy-back arrangement.

The products manufactured in the plant will be compressed fibre cement non-asbestos boards, which can be used for flooring, pre-fabricated structures and facades. These boards will be available in various colours, he said.

The market for facades in India is about Rs 500 crore, and Everest plans to capture 5 per cent of the market share by the end of the next financial year.

The company's roofing products and boards are currently available through more than 5,000 retail outlets spread across the country, he said.

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