Tile and bathware company Varmora Granito Pvt Ltd has said that it will set up two “state-of-the-art” plants at Morbi in Gujarat. The company is planning to invest around Rs 300 crore in the 35,000-sqm per day facility for the large format GVT tiles and expects the plants to operationalise by April next year. It has set a target of Rs 1,600 crore in revenue in the next 2-3 years, the company said in a press statement.
“Trusted for reliability, innovation, quality consciousness, design and technology, Varmora has created a strong brand identity for itself, which is well recognised globally. The company looks to strengthen its identity as the leader in the Indian ceramic industry by consistently introducing innovative and value-added products in the market to keep pace with its customers. The proposed expansion will help us to meet the growing demand from the export market as well as serve the domestic markets better,” Bhavesh Varmora (In photo), chairman, Varmora Group said.
According to Bhavesh Varmora, the company is expecting a double-digit growth in the sales in current financial year anticipating a “robust” demand from the export market, especially North and South Americas, Europe, Africa and the Middle-east countries. “With anti-china sentiments across the world and the US imposing heavy duties on tiles from China, we anticipate a huge export potential for Indian companies. In the next 2-3 years, the company has set a target of Rs 1,600 crore in revenue, expand the export network to 100-plus countries from 70 currently and increase exclusive showrooms to over 320.”
Ramanbhai Varmora, founder, Varmora Group, said, “We started our journey from a small unit at Morbi in 1994. Today, Varmora has become one of the leading tile and bathware brand and emerged as one of the largest ceramic companies of India with around 5,000 product designs across segments. The company offers wide rand of products including, ceramic floor, digital wall, parking, porcelain, digital glazed vitrified, double charge, outdoor, slabs, etc. The company has 11 state-of-the-art manufacturing facilities with an installed capacity of 1.1 lakh square meters per day.”
Varmora Granito has a presence in the domestic market with 7,000-plus touchpoints including dealer and sub-dealer network, over 250 exclusive showrooms and 15 overseas showrooms. The company reported sales of Rs 1100 crore for the FY20, Ramanbhai Varmora said.