Somany Ceramics plans expansion, brand building.

Delhi-based Somany Ceramics is planning to invest Rs. 150 crore over the next 12 to 24 months for capacity expansion and brand building.

The BSE and NSE-listed company currently produces 41 million sq m of vitrified and ceramic tiles from three fully-owned facilities (two in Kadi in Gujarat and one in Kassar, Haryana) and six joint venture facilities at Morbi in Gujarat.

According to Abhishek Somany, Joint Managing-Director, Somany Ceramics, negotiations are on to acquire between 26 and 51 per cent stake in two more tile-makers in Gujarat.

Also on the cards are expansion of own facilities.

'We are looking to finalise two joint ventures soon. The capacity of our own facilities will also be expanded to shore up total production by 15 million sq m,' he told Business Line.

The company would invest around 2-3 per cent of its turnover towards brand-building.


HBL