Kajaria Ceramics expect 12-15% growth
Kajaria Ceramics is looking to achieve a volume and revenue growth of 12-15% in this financial year, said Ashok Kajaria, chairman and managing director of the company. It had clocked a volume growth of 6% last year. “The previous financial year was very tough especially because of the introduction of GST. It was the first time the industry saw a negative growth however things look positive now,” said Kajaria.
The company hopes that the new plant in Andhra Pradesh will be operational by March 2019 and will add about 4 million sq meter to the existing tiles capacity.
Kajaria Ceramics has about 10% market share of the Rs 28,000 crore tile industry. It has an annual aggregate capacity of 68.60 million sq meters of tiles, distributed across ten plants, which it plans to increase to upto 100 sq meters by 2021.
The company recently announced to invest Rs 15 crore to acquire over 50% shares of Kajaria Plywood. “The plywood segment is growing. Of the Rs 27,000 crore segment, only a handfull are with the organised player. Hence we would be looking to exploit the gap,” said Kajaria.