Financial Daily from THE HINDU group of publications
Friday, Aug 12, 2005
Financial Daily from THE HINDU group of publications Friday, Aug 12, 2005 |
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Corporate
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Outlook Parryware targets 40% growth in turnover Our Bureau
Kolkata , Aug. 11 THE Parryware division of EID-Parry (India) Ltd has targeted a 40 per cent growth in turnover in the current fiscal. In 2004-05, the division accounted for Rs 196-crore turnover, according to Mr K.E. Ranganathan, CEO of Parryware. At a press conference held here today to unveil the company's growth plans for eastern India, Mr Ranganathan said the domestic market for sanitaryware was pegged at around Rs 700 crore annually. Of this, about Rs 300 crore was in the organised sector. However, with consumers becoming brand-conscious, the organised segment was growing faster than the unorganised segment. While the sanitaryware market was growing at 16 per cent, Parryware had registered a growth of 22 per cent. The company currently has three manufacturing facilities at Dewas, Ranipet and Alwar, which together manufacture 3.25 million sanitaryware pieces. A fourth manufacturing facility was coming up near Erode in Tamil Nadu at an estimated cost of Rs 60 crore. The Erode factory can manufacture one million sanitaryware pieces per annum and would go on stream in the current fiscal. Mr Ranganathan said the company's sanitaryware market share in eastern India was slated to rise from 32 per cent to 40 per cent by the end of the current fiscal. Sanitaryware exports were expected to increase from seven per cent of turnover at present to around 20 per cent within three years, he said.
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