Varmora Granito plans ₹300-cr new plants in Gujarat

Varmora Granito, a tile and bathware manufacturer of national repute has decided to invest around ₹300 crore to set up two plants at Morbi in Gujarat and both of them will be commissioned by April 2021. According to the Chairman, Bhavesh Varmora, the proposed expansion will help the company to meet the growing demand from export market as well as serve the domestic markets better, besides generating ₹1,600 crore revenues in the next 2-3 years. For the FY20, the company reported sales of ₹1,100 crore and is expecting double-digit growth of sales in the current financial year with robust demand from the export market especially North and South America, Europe, Africa and Middle East Countries.