EIL gears to grab 45 % market share in state

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Bhubaneswar, Feb 24: Everest Industries Limited (EIL), the manufacturer of building solution products, hopes to achieve a market share of 45 per cent in state in next two years, a top official of the
firm said.
“We are hoping (to get) a market share of 45 per cent in the state by increasing our footprint. We are planning to increase our present number of outlets by 20 to 25 per cent in the coming fiscal. The current market share of the company in the AC roofing segment in the state is about 33 per cent,” Everest senior vice president and head roofing business, Rahul Chopra, said at the launch of one of its new colored fibre-cement roofing sheet here Tuesday.
Elaborating on the performance of the company he said the company targets to end this fiscal with an all-India turnover of nearly Rs 1,300 crore. The company is targeting a business turnover of nearly Rs 1,600 crore in the nest fiscal.
“In Orissa we are selling nearly 50,000 metric tone of AC roofing sheets and are targeting to sell nearly 5,500 metric tone of it in the next fiscal. We want to achieve a turnover of `80crore in state as against the current turnover of `55crore this
fiscal,” Chopra said.
Talking on the plant operating in state, he said the plant that was set up with an investment of `60crore has a capacity of producing 1.32 lakh metric tone as against the current production of 1.05 lakh metric tonne.
“We may enhance the production to the capacity of the plant in coming years in response to the increasing demand for our products in state,” he said.
Talking on the new plant, the work of which is going on in full swing in UAE, he said the company is investing `100crore for its new plant and the plant will start production by the end of next fiscal. Owing to the higher market potential in the middle-east the company had decided to set up the plant in UAE.