Somany Ceramics plans to invest Rs 675 crore in both brownfield and greenfield projects by FY24, with the goal of increasing the capacity of its 11 existing factories in north, south, and west India by 25%.
The huge slab facility at Morbi in Gujarat would be put into operation in Q3 of this fiscal year as the final stage of expansion at a cost of Rs 175 crore.
With active projects and an expenditure of over Rs 500 crore, the net capacity addition to date has been almost 11 million square metres.
The company is aiming for a revenue of Rs 5,000 crore in FY28, according to Abhishek Somany, Managing Director & CEO of Somany Ceramics Ltd.
In FY23, it reported a standalone turnover of Rs 2,470 crore, while net profit was around Rs 90 crore.
“The benefits of capacity addition and investment will be fully effective FY25 onwards,” he said.
