HYDERABAD: Cera Sanitaryware Ltd is targeting a turnover of Rs 1,400 crore to Rs 1,500 crore in the current fiscal and will also start production from its new polymer plant this financial year, its Chairman and Managing Director, Vikram Somany said.
“Our turnover was Rs 1,180 crore in 2017-18 financial year. We are expecting a turnover of around Rs 1,400 crore to Rs 1,500 crore in 2018-19 fiscal,” Somany, told reporters here after launching the company’s display showroom “CERA Style Studio.”
The company has a total of nine CERA Style Studios in the country and plans to more than double the same in the next two-three years, he said.
On the new polymer plant, Somany said “we have started construction of our polymer plant which will be making plastic toilet seat covers, flush systems, cisterns and allied products made of plastics. We are setting up the factory in Mehsana in Gujarat with an investment of around Rs 25 crore.”
“We should start production (from the upcoming polymer plant) within the current fiscal itself by January-February 2019,” he said.
On expansions, Somany said Cera Sanitaryware Ltd is looking for a few more joint venture partners (JVs) for manufacture of tiles and setting up more galleries (exclusive showrooms), adding “we are thinking for another JV for tiles. It will be operationalised in the next fiscal.”
The company achieved 15 per cent sales growth last financial year.
“The market still remains subdued. But, we are hopeful to grow 18 to 20 per cent this fiscal,” the company’s Executive Director, Atul Sanghavi, said.
Cera has sanitaryware and faucet plants at Kadi in Gujarat and one of the tiles plants is situated in Nellore in Andhra Pradesh.
Source: Press Trust of India