Orient Bell is planning to set up two joint venture factories and increase production capacity at one of its own plants next year.
For this, the NSE-listed tile manufacturer based out of New Delhi is investing Rs 40 crore.
“After almost a flat growth this financial year with the fuel prices going down and therefore, selling tiles at lower rates, we are targeting 15-20 per cent growth in sales turnover in fiscal 2018,” KM Pai, executive director and CFO at Orient Bell was quoted as saying by Financial Chronicle.
The tile major is targetting 15-20 per cent growth in topline in 2017-18 after a flat growth this year. It had clocked Rs 750 crore in sales turnover in fiscal 2016, a growth of five per cent over the previous year.
“These two joint venture factories will go onstream in 2018. We will be holding 25 per cent equity stake and invest accordingly in both the factories but 100 per cent marketing and sales will be carried out by our company,” he said further.
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