Sanitaryware major Roca India has planned to pump in ?50 crore as capital expenditure in its Greenfield plant in Rajasthan and is aiming at doubling revenue to cross the ?4,000-crore mark over the next four years
The wholly owned subsidiary of Spanish Roca Group is setting up its maiden pipe manufacturing facility at Alwar under its flagship brand Parryware and expects that the plant would be operational by mid of 2023, he said.
“Despite economic headwinds and cost pressure, we remain optimistic about India’s growth story and will continue to invest here. Our capital expenditure will be around ?50 crore in our maiden pipe manufacturing facility in Rajasthan,” Roca India Managing Director K.E. Ranganathan. The contribution of the pipe business to its overall revenue is just 5% now, he said.
Roca India forayed into the pipes segment in a bid to increase its revenue share to 15% in the next five years from the current 9% contribution to its global sales. “Roca India contributes 9% 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% in the next five years,” Ranganathan said.
