Elica PB India plans expansion at Rs 50 cr

Elica PB India Private Limited is planning to expand capacity with an investment of up to Rs 50 crore.

The company, which is 51 per cent owned by Italian kitchen chimney major Elica SpA, is aiming to tap growing urban demand with the expansion.

Prahalad Bhutada, CEO and director, Elica PB India, was quoted as saying by The Hindu: “The demand for life style kitchen appliances is growing fast from urban households in India and there is a requirement to expand production capacity.”

He added: “By 2019, we are looking at a major expansion involving Rs 40 crore to Rs 50 crore. The capex will be funded from internal accruals. We are making good profit and will fund the expansion from our own funds.”

Image Credit : thehindu.com