Varmora Invests ₹400 Crore in New Morbi Mfg Plants

Varmora Granito Pvt Ltd., a leading Gujarat-based tile and bathware brand backed by Carlyle, has announced a significant ₹400 crore investment to establish two new manufacturing plants in Morbi, Gujarat. These plants will collectively enhance the company’s production capacity by 17 million square meters (msm) per annum, boosting Varmora’s total output to 58 msm annually.

One of the new facilities will focus on producing artificial stones that mimic the aesthetics of natural marble. This plant will employ Integrated Stone Technology (IST), an innovative Italian technology that not only replicates natural marble but also offers enhanced strength, stain resistance, and cost-effectiveness. Varmora Group has secured exclusive rights to this technology from Sacmi for the next two years, positioning the company to lead in the artificial stone market, particularly within India.

The second plant, with a capacity of 12 million square meters, will be dedicated to manufacturing tiles and bathware, catering to the growing demand in both domestic and international markets. Together, these two facilities are expected to generate over 600 new jobs, further contributing to the local economy.

For the financial year 2023-24, Varmora reported impressive sales of ₹1,490 crore, with exports comprising 20% of its revenue. With these new plants, the company aims to strengthen its market presence and meet the increasing demand for high-quality tiles and artificial stones.

Varmora currently operates 15 manufacturing plants in Morbi, and this latest investment underscores its commitment to innovation and growth, solidifying its position as a key player in the global tile and bathware industry.

News by Rahul Yelligetti