Deco Group to enter capital market

Chennai, Oct 10 (UNI) Deco Group, manufacturers of vitrified tiles and ceramic wall and floor tiles proposes to enter the capital market to raise Rs 75 crore for expansion and meeting working capital needs.

Addressing media here, Chairman and Managing Director Girish Pethapara said the company, which would make a turnover of Rs 200 crore this fiscal, would enter the capital market in January next.

Deco proposed to utilise the proceeds to set up wind turbine power generation with five MW capacity, make Aluminium Compressed Panels for the construction industry and expand the manufacturing capacity of vitrified tiles at its facility at Morvi in Gujarat.

Presently, the company was making 11,000 sq m of vitrified tiles a day in different varieties.

Announcing the formal launch of vitrified tiles and ceramic wall and floor tiles in the Tamil Nadu market, Mr Pethapara said they had over 2000 dealers througout the country and ten sales depots.

The company had diversified into making power-saving lamps and was all set for an all India roll out. The lamps under the brand name 'Rema', had been test-marketed in Gujarat and would be introduced in Madhya Pradesh, Chattisgarh, Maharashtra and Rajastan, besides Gujarat this month, he said.

He said the Deco Group was one of the top ten companies engaged in vitrified tiles manufacturing and planned to emerge the leader in the tile industry.

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