Incorporated on 7 Apr.'89 at Jaipur, Rajasthan, Madhav Marbles & Granites became public in 1990. It was promoted by Rajsingh Dungarpur, J H Dashora, R K Bapna and Lata Mangeshkar.
The company processes marbles and granites. The products of the company are marble and granite tiles used for flooring and wall cladding in residential and commercial complexes, and also for interior decoration.
The company came out with a public issue in May '92 to set up a 100% EOU to process granite tiles with an installed capacity of 1,38,000 sq mtr p.a. and another unit to process marble tiles with an installed capacity of 3,61,338 sq mtr pa.
The manufacture of granite and marble tiles comprises block cutting, cross cutting, grinding, calibrating, polishing and chamfering.
The company has an agreement with Khimji Ramdas, Muscat, to sell its entire production of granite tiles and 35% of its production of marble tiles. The company proposes to sell the remaining in domestic markets.
The company exports its products to over 20 countries including the US, Germany, Holland, Singapore and Australia. MMGL has received Capexil award consecutively for the seven years, the last being 1998-99, for highest exports of processed granite.
It has been unable to make a breakthrough in the development of mines, inspite of substantial investments, due to huge developmental expenses, infrastructure bottlenecks, quality of materials and operational difficulties.
During the year 1999-2000, a 100% EOU was set up for manufacturing polished granite slabs.
During the year 2000-01,the company had received Capexil Award for highest exports of granite tiles made during the year 1999-2000.
Rose Marbles Limited(RML) has become the subsidiary of the company in 2001-02, consequent to acquisition of 52300 Equity Shares which represents 51.27%(RML). RML is in the business of processing Marble Slabs / Marble Trading.
The company has acquired two wind turbine generators each of 1.25 MW during January 2005 and has started generation of power.