Sezal Glass, one of the leading players in the architectural glass business, plans to invest Rs 100 crore in next one year to set up manufacturing facility in Bangalore and National Capital Region (NCR).
The company has modern manufacturing facilities in Union Territory of Dadra Nagar Havelli, District Silvassa.
With the new facility, the company proposes to shorten the lead time, thereby enabling delivery of products in time and within customers' budget. The company proposes to dip into its reserves for funding the project. The company currently is a debt-free with adequate cash reserve for its future course of growth.
Sezal Glass recently sold its float glass business to Saint-Gobain Glass India, a wholly-owned subsidiary of France-based Compagnie De Saint Gobain on slump sale basis for a consideration of Rs 686 crore. The market for value-added glass is estimated at about Rs 2,000 crore, increasing at 30 per cent a year.
Mr Amrut S. Gada, Chairman and Managing Director, said the company plans to invest Rs 500 crore in next five years to set up manufacturing units in major metros, tier II and III cities.
The product profile following this investment will include manufacture of high quality value-added glass products such as security glass, safety glass, fire resistance glass, acid patterned glass, bullet proof glass and manufacturing of other glass products – patterned and solar glass.
The company's performance in the last few quarters had remained subdued on account of the setting up of the highly capital intensive float glass projects, said Mr Gada.