New Delhi, Sakarni Plaster (India) Ltd will invest around Rs 450 crore over the next two years to set up two new plants for manufacturing of paints and gypsum boards as well as increasing capacities at existing plants.
Delhi-based Sakarni Plaster has 12 manufacturing plants, mostly in Rajasthan. It makes Plaster of Paris (POP), wall putties (cement and acrylic-based), gypsum boards, premium paints, tile adhesives, construction chemicals, waterproofing systems, and crack-resistant surface solutions. Its total revenue stood at Rs 900 crore last fiscal.
"We are planning to expand our manufacturing capacities. We will set up a plant for gypsum boards in Andhra Pradesh and a paint plant at Mathura, Uttar Prades. We will also expand capacities at our existing plants," Sakarni Plaster Chairman & Managing Director Ashok Gupta told reporters here.
Last year, he said the company signed definitive agreements with Coromandel Chemicals Ltd to form a joint venture for the manufacture and sale of Phospho Gypsum-based green building materials.
Gupta said the joint venture will set up this plant in Andhra Pradesh with an investment of Rs 150 crore.
He said the company has acquired a land to establish a plant in Mathura for manufacturing of paints.
"We will be investing around Rs 400-450 crore for the expansion," Gupta said, adding that the investments would be funded through internal accruals and bank loans.
On Tuesday, Sakarni Plaster launched gypsum plaster product 'Suntara' to strengthen its presence in India's growing building-materials market.
"India's construction and real estate sectors are entering a phase of sustained expansion, creating significant opportunities for organised building-material manufacturers. POP remains an essential material across residential, commercial and interior applications," he said.
Gupta said the company sells its products to consumers using dealership network. North India contributes 70 per cent to its turnover.
