Kochi, June 21
PARRYWARE, the bathroom solution provider, has set a sales growth target of 40 per cent for Kerala this year.
The company, which had forayed into taps and fittings accessories market in the State in mid-2004, gained a five per cent market share in the first year of the launch, Mr K. E. Ranganathan, CEO, Parryware said.
Parryware had consolidated its position in Kerala with a 50 per cent market share in the organised sector. It is also planning to launch several customer-relevant bathroom products during the year to boost sales, he said.
Mr Ranganathan, who was here for the opening of a new showroom, said that the company has over 60 dealers in the State and Parryware products are available in over 800 retail outlets. Parryware also has a 24x7 customer care centre in Kerala for bathroom-related services.
Parryware, he said, is in the process of setting up a sanitary ware manufacturing facility in Perundurai near Erode (Tamil Nadu). The facility, with an investment outlay of Rs 60 crore, is expected to start operating by March 2006. The new facility will cater to the increasing demand in southern States, including Kerala, and neighbouring countries.
Currently, the company has three sanitary ware manufacturing facilities in Dewas (Madhya Pradesh), Ranipet (Tamil Nadu) and Alwar (Rajasthan). It had recently scaled up its capacity at these facilities.
Mr Ramanathan said that the company ended the financial year 2004-05 with revenues close to Rs 200 crore and a market share of around 40 per cent in the organised sector. The overall market is estimated to be about Rs 700 crore for sanitary ware in the country, with the organised sector accounting for Rs 300 crore.