After the large capacity expansion completed this year, Somany Ceramics has become the second biggest Indian tile producer. Watch CEO Abhishek Somany’s interview at the inaugural conference at Tecna 2022.
Somany Ceramics is currently in a capacity expansion mode. In May this year, the Indian Group completed the most important capacity expansion project in its recent history. The three new lines increased the group’s access to annual production capacity from 63 to 74 million sqm, strengthening its position as India’s second largest manufacturer and a top global player.
As Managing Director & CEO Abhishek Somany explains, “This expansion was essential to maintain the leadership position in the market and enhance the overall brand saliency”.
In the fiscal year ended in March 2022, the company’s total revenues (including 10% generated in the bathroom segment) grew by 27% on the previous year to Rs. 20.6 billion (approx. US $272 million), with EBIDTA margins of 9.9%.
The positive results were mainly due to the good trend in the construction market in India, which is buoyant, so that the company is targeting a growth of 30-35% in this financial year.
“The Indian economy has fully returned to pre-pandemic levels”, says CEO Abhishek Somany. “Inflationary pressures are present, but India is perfectly positioned to lead the industry into the next decade. The government has also played an important role through schemes aimed at making the overall business environment more investment friendly. In the light of this, I am convinced that India has the potential to become the world’s largest ceramic tile exporter over the next decade”.
Mr. Abhishek Somany was one of the guest speakers at the Inaugural Conference of Tecna 2022 on 27 September in Rimini, where he outlined the challenges and opportunities of the Indian ceramic industry.
Watch the video of his speech.
Read the complete interview published in Ceramic World Review 148