Greenply eyeing 35 pc growth, introduces new designs
Interior infrastructure company Greenply Industries Limited (GIL) is embarking on a product portfolio expansion programme to meet its target of achieving 35 per cent annual growth in the next three years on the back of enhanced production capacity.
By PTI |
NEW DELHI: Interior infrastructure company Greenply Industries Limited (GIL) is embarking on a product portfolio expansion programme to meet its target of achieving 35 per cent annual growth in the next three years on the back of enhanced production capacity.
"We expect to close at around Rs 470 crore for 2006-07 and are looking at 35 per cent growth in coming three years, higher than the overall industry growth of 12-15 per cent," GIL Joint Managing Director and CEO Saurabh Mittal told PTI.
He said the company has four production facilities in Nagaland, Kolkata, Uttaranchal and Rajasthan and an investment of Rs 40 crore has been made recently for expanding the capacity of its Behror Plant in Rajasthan which manufactures laminates.
GIL has also launched a range of new laminates categories under its brand name 'Greenlam' and expects to grab a sizable chunk of the overall laminates market in India.
Greenply manufactures plywoods, laminates, particleboards and decorative veneers and accounts for 25 per cent of the organised plywood and 14 per cent of organised laminate marketshare in India.
The overall current market size is Rs 10,000 crore, of which plywood comprises around Rs 7,000 crore and rest laminates and particle board. Ninety per cent of the plywood market in India is unorganised.
Exports contribute to 10 per cent of the company's total turnover to over 18 countries including the US, Australia, Malaysia, Singapore, the UAE, Russia and Israel.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
