Somany Ceramics aims 27% growth in turnover at Rs 2,700 cr this fiscal

Somany Ceramics Ltd is looking at a 27 per cent growth in revenue to Rs 2,700 crore during the current fiscal even though the industry is passing through a "bad phase" due to rise in natural gas prices, a company official said on Wednesday.

Its turnover was Rs 2,120 crore last year.

The company's three plants in Haryana, Gujarat and Andhra Pradesh have a total manufacturing capacity of 75 million square metre per annum, including those of the seven subsidiaries and associate facilities, Somany Ceramics Deputy CEO Amit Sahai said.

The natural gas price in Gujarat, the major producting state for the ceramic industry, has gone up, putting a pressure on the bottom line, he said.

The company enjoys a market share of 20 per cent across India in the organised sector, he said, adding that 16 per cent of the its revenue comes from the east.

Exports account for four per cent of the overall turnover as the focus is on the domestic market which is "huge", Sahai said.

The ceramic industry grew by six per cent last fiscal, and in the first quarter of the current financial year (2022-23), it has been stagnant, he said.

The company manufactures tiles, sanitary wares and adhesive fittings.