The Indian subsidiary of the international sanitary-ware brand – Roca India is all set to infuse INR 50 crore in its maiden pipe manufacturing facility.
Roca India, a leading sanitary ware company, is planning to invest INR 50 crore in its Greenfield facility in Bhiwadi, Rajasthan. The firm is aspiring to attain twice its revenue to cross the INR 4000 crore mark in the next four years – as published in news reports.
Roca India, the wholly-owned subsidiary of Barcelona-based Roca Group, is going to establish the pipe manufacturing plant at Alwar under its flagship brand Parryware. The company expects that the plant would be operational by the middle of 2023. Roca had acquired Parryware from the Chennai-based conglomerate Murugappa Group in 2008.
Speaking positively about the company’s steadfast growth, Mr. K.E. Ranganathan, Managing Director, Roca India, said, “Despite economic headwinds and cost pressure, the company remain optimistic about India’s growth trajectory and will continually invest here. The firm’s capital expenditure will be around INR 50 crore in the maiden pipe manufacturing facility in Rajasthan.”
Presently, Roca India has annual revenue of around INR 2000 crore. Mr. Ranganathan exclaimed that the company will be able to grow at 25 percent CAGR and will surpass the INR 4000-crore mark in the next four years.
The firm forayed into the pipes segment primarily with the aim to enhance its revenue share to 15 percent in the next five years from the current 9 percent contribution to its global sales. “Roca India contributes 9 percent of the group’s global turnover. India is the third largest market after Spain and Mexico. We have set a target to expand this share to 15 percent in the next five years,” he asserted.