Roca India Plans Rs 200 Cr Capex In 2023
Sanitaryware major Roca India is looking at inorganic growth opportunities in the plastics pipes and fittings market as well as in the faucets segmentd. The Indian arm of the €2-billion Spanish bathroom products giant Roca Group has also lined up Rs 200-crore capital expenditure (capex) during the current year to fuel targeted double-digit growth. As per Roca India Managing Director K E Ranganathan, the company is open to acquisitions in the plastics pipes and fittings segment, which is a Rs 15,000-crore market. The presence is small in the plastics and PVC pipes segment, unlike in sanitaryware. However, it is growing at 50 per cent per annum and this year hopes to do Rs 150-200 crore business. The company operates in India as Roca Bathroom Products. Speaking about the faucets plant, he stated that the company, which has a manufacturing facility in Bhiwadi in Rajasthan, is nearing full capacity. Roca India enjoys about 35 per cent market share in the bathroom products segment in the country, he claimed. It has eight manufacturing facilities in India and is also aiming at expanding its operations in the country. The company exports to several developed countries, including Australia, and European nations but the base is "still at a low single-digit percentage of the total revenue.” The company hopes that exports could grow significantly in the next 5-7 years due to cost advantages. India remains a relatively cost-effective location for manufacturing bathroom products, which could give the company an edge in the overseas market.
Tags : Sanitaryware Roca India inorganic growth opportunities plastics pipes fittings market Spanish bathroom products K E Ranganathan Managing Director developed countries Australia European nations