The company expects the plants to be fully commercial operations by April 2021 and will generate 1,200 direct and indirect employment opportunities.
Varmora Granito Pvt Ltd – one of 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 Rs 300 crore in 35,000 sq meters per day facility for large format GVT tiles. The 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, the company has set a target of Rs. 1,600 crore revenue in the next 2-3 years.
Virtual stone laying ceremony of the new plants was conducted at the hands of Chief Minister of Gujarat Vijay Rupani on October 27 in Gandhinagar, Gujarat. Additional Chief Secretary – Industries and Mines (Gujarat), MK Das, IAS was also present during the ceremony.
Speaking on this occasion, 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 the export market as well as serve the domestic markets better.”
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, the company’s installed production capacity stands at 1.1 lakh sq. mtr. per day. Company has a strong presence in the domestic market with 7,000 plus touchpoints including dealer & sub-dealer network, over 250 exclusive showrooms and 15 overseas showrooms. For the FY20 company reported sales of Rs 1100 crore.
“We are expecting double-digit growth in the sales in the current financial year with robust demand from the 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 the huge export potential for Indian companies. In the next 2-3 years, the company has set a target of Rs. 1,600 crore revenue, expand the export network to 100 plus countries from 70 currently and increase exclusive showrooms to over 320,” said Bhavesh Varmora.
Ramanbhai Varmora, Founder, Varmora Group, said, “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.”