Somany Ceramics soars on plan to invest Rs 150 crore for capacity expansion, brand building

25 Apr 2014

Somany Ceramics is currently trading at Rs. 197.00, up by 7.35 points or 3.88% from its previous closing of Rs. 189.65 on the BSE.

The scrip opened at Rs. 192.00 and has touched a high and low of Rs. 202.15 and Rs. 191.10 respectively. So far 11163 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 202.15 on 25-Apr-2014 and a 52 week low of Rs. 65.30 on 31-Jul-2013.

Last one week high and low of the scrip stood at Rs. 202.15 and Rs. 166.00 respectively. The current market cap of the company is Rs. 764.85 crore.

The promoters holding in the company stood at 63.31% while Institutions and Non-Institutions held 4.51% and 32.18% respectively.

In order to expand its capacity and build its brand, Somany Ceramics is planning to invest Rs 150 crore over the next 12 to 24 months.

At present, the company produces 41 million sq m of vitrified and ceramic tiles from three fully-owned facilities (two in Kadi in Gujarat and one in Kassar, Haryana) and six joint venture facilities at Morbi in Gujarat.

Further, the company is in negotiations to acquire between 26 and 51 per cent stake in two more tile-makers in Gujarat. Also on the cards are expansion of own facilities.

Somany Ceramics is a pioneering manufacturer, supplier and exporter of Floor Tiles, Wall Tiles, Sanitary Ware including urinals, basins, etc. Somany strives to bring its customers floor, wall, vitrified, ceramic, porcelain and innovative tiles that are the very latest in the world.

 

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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