Somani Tiles (SPL Ltd) announces 43 % growth in sales
somanytiles.com
(One of India's leading industrial groups, Somany Enterprise, was established by Mr. H.L. Somany, the pioneer of the ceramic industry in India. The Group's activities include ceramic glazed tiles, sanitaryware, glass containers, textiles and sanitary fittings
The core business of the Somany Group today, i.e, Somany Tiles, was established in 1970. Continuous investments in modernisation and technology upgradation have paid rich dividends, as Somany continues to grow in leaps and bounds.)
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New Delhi: SPL Limited, the second largest player in the Indian tile industry has announced sales of Rs 83.39 crore for the first half of 1999-2000- a growth of 43 per cent over the sales of Rs 58.9 crore for the corresponding period last year.
Operating profit before interest and depreciation has surged from Rs 11.96 crore to Rs 14.27 crore and the net profit at Rs 3.36 crore has increased by 150 per cent from Rs 1.3 crore during last year.
After a successful first quarter, with sales at Rs 39.63 crore, the Delhi-based tile major registered a sales of Rs 43.76 crore in the second quarter of this fiscal, a 26 per cent surge compared to its performance in the second quarter of last year.
According to Shreekant Somany, managing director, SPL limited: 'The results reflect an increased thrust in distribution, advertising and better capacity utilisation. The 10 new exclusive Somany tile arcades, launched in strategic locations across the nation have not only brought the product closer to the consumer, it has also led to an increased level of involvement in the category.
By competitively pricing the sub brand, Pokhran Range, SPL has signaled its entry in the low cost segment. This has successfully penetrated in the B class towns as well.
UNI |
