Varmora Granito to Invest Around Rs 300 Crore in Two State-of-the-art Plants; to Generate 1,200 Employment

Ahmedabad (Gujarat) [India], Oct 27 (ANI/NewsVoir): 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.

Company is planning to invest around Rs 300 crore in 35,000 square meters per day facility for large format GVT tiles. Company expects the plants to be fully commercial operations by April 2021 and will generate 1,200 direct and indirect employment opportunities. Celebrating 25 years of innovation, design and technology, company has set a target of Rs 1,600 crore revenue in the next 2-3 years.

Highlights:

Celebrating its silver jubilee - Varmora Group has become one of the leading tile and Bathware brand globally with a focus on innovation, design and technology

Company has grown its manufacturing capacity multifold to over 1.1 lakh square meters per day with 11 plants; Proposed expansion will add 35,000 square meter per day

Company exports to 70 plus countries and plans to expand its global footprints to 100 plus countries in next 2-3 years

Company plans to expand domestic Touch-points from 7,000 to 10,000 plus in next 2-3 years

In next 2-3 years, Company has set a target of Rs 1,600 crore revenue and expand exclusive showroom network to over 320

Virtual stone laying ceremony of the new plants was conducted at the hands of Chief Minister of Gujarat, Vijaybhai Rupani on October 27 in Gandhinagar, Gujarat. Additional Chief Secretary - Industries and Mines (Gujarat), MK Das, IAS was also present during the ceremony.

"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," said Bhavesh Varmora, Chairman, Varmora Group, while speaking on this occasion.

Varmora Granito is ranked amongst top tile and bathware brand in India and manufacturing 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 Square meters per day. Company has a strong presence in domestic market with 7,000 plus touch points including dealer and sub-dealer network, over 250 exclusive showrooms and 15 overseas showrooms. For the FY20 company reported sales of Rs 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 Rs 1,600 crore revenue, expand export network to 100 plus countries from 70 currently and increase exclusive showrooms to over 320," said Bhavesh Varmora.

"We feel very happy and proud of this achievement and want to thank every stakeholder of the company especially our employees, dealer-distributor friends, banker, business partners for their continued support throughout the successful journey of the company for the last 25 years. Started our journey from a small unit in Morbi in the year 1994, Varmora today has become one of the leading tile and bathware brand," said Ramanbhai Varmora, Founder, Varmora Group.

Varmora Granito Pvt. Ltd. has emerged as one of the largest ceramic companies of India having 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. Company has 11 state-of-the-art manufacturing facilities with installed capacity of 1.1 lakh square meters per day.

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