Varmora Granito, one of the India’s leading tile and bathware brands, 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. The company expects the plants to start full-fledged commercial operations by April 2021.
Virtual stone laying ceremony of the new plants was done by the Chief Minister of Gujarat, Vijaybhai Rupani on October 27 in Gandhinagar, Gujarat. Additional Chief Secretary – Industries and Mines (Gujarat), MK Das was also present during the ceremony.
Speaking on the 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 export market as well as serve the domestic markets better.”
With 11 plants, the company’s installed production capacity stands at 1.1 lakh sq. metre per day. The company has a strong presence in the domestic market with 7,000 plus touch points including dealer & sub-dealer network, over 250 exclusive showrooms and 15 overseas showrooms. For the FY20, the 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, the 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,” added 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-distributors, banker and business partners for their continued support throughout the successful journey of the company for the last 25 years. Starting our journey from a small unit in Morbi in the year 1994, Varmora today has become one of the leading tile and bathware brands.”