Varmora Granito to invest around ₹300 crore in two state-of-the-art plants; To generate 1,200 employment

Varmora Granito
Varmora Granito Pvt Ltd - one of the India's leading tile and bathware brand is setting up two state-of-the-art high-tech plants at Morbi in Gujarat. The company is planning to invest around ₹300 crore in 35,000 sq meters per day facility for large format GVT tiles. It expects the plants to be fully commercial operations by April 2021 and will generate 1,200 direct & indirect employment opportunities. Celebrating 25 years of innovation, design and technology, the company has set a target of ₹1,600 crore revenue in the next 2-3 years.

Virtual stone laying ceremony of the new plants was conducted at the hands of Hon'ble Chief Minister of Gujarat, Shri Vijaybhai Rupani on October 27 in Gandhinagar, Gujarat.

Mr. Bhavesh Varmora, Chairman, Varmora Group said, "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 valued customers. The proposed expansion will help us to meet the growing demand from export market as well as serve the domestic markets better."

Varmora Granito manufactures a wide range of wall and floor tiles, slabs, sanitaryware, faucets and kitchen sinks. With 11 plants, company's installed production capacity stands at 1.1 lakh sq. mtr. per day. It has a strong presence in domestic market with 7,000 plus touch points including dealer & sub-dealer network, over 250 exclusive showrooms and 15 overseas showrooms. For the FY20 company reported sales of ₹1100 crore.

"We are expecting a double-digit growth in the sales in current financial year with a robust demand from export market especially North and South America, Europe, Africa and Middle East Countries. With anti-china sentiments across the World and USA imposing heavy duties on tiles from China we anticipate huge export potential for Indian companies. In the next 2-3 years, company has set a target of ₹1,600 crore revenue, expand export network to 100 plus countries from 70 currently and increase exclusive showrooms to over 320," said Mr. Bhavesh Varmora.
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