NE BUSINESS BUREAU
AHMEDABAD, JULY 21
Sunhearrt Group’s Sunshine Tiles Company Pvt Ltd and Ajanta Oreva Group on Wednesday announced the formation of a joint venture to set up the India’s biggest vitrified plant in Gujarat, says a joint release.
The JV will be named Sunshine Vitrious Tiles Pvt Ltd. The company targets to achieve Rs. 1,000 crore turnover in next 3 years and Rs.1,500 crore turnover in next 5 years.
Commenting on this, Bhudarbhai, Chairman of Sunhearrt Group said, “It is a proud moment for all of us and this decision is important, to match up to the demand of the international markets. This collaboration is a testimony to the saying, ‘United We Stand’ and thus, with this joint venture with Ajanta Oreva Group led by Jaysukhbhai Bhalodia and our mammoth plant at Samakhiyali, Gujarat; we are beginning our new journey to create history in the Indian Tile Industry.”
“The Indian tiles industry ranks among top 3 in the world in tile manufacturing and continues to grow at a steady 15 percent per annum. Sunshine Tiles Company Pvt. Ltd., which is well-established and popular company in India, Owns ‘Sunhearrt brand”. And the astounding journey that the later has had, Sunhearrt has become the 6TH youngest brand in the Indian ceramic industry today. Sunhearrt brand’s product portfolio is very diverse and with products being manufactured entirely in India,” he added.
The brand is, in fact, synonymous with “Make in India” and the “Vocal for Local” initiative of the PM’s vision. Sunhearrt has maintained its position as the number one exporter in the Indian ceramic industry for five consecutive years along with proudly donning the status of the first three-star export house in India. And it is the quality assurance and product innovations that, the products of Sunhearrt brand companies, last year’s annual turnover has crossed the target of Rs 639 crore, during the pandemic situation and overall slowdown.
Talking about the company’s vision, Bhudarbhai said, “Sunhearrt Group will make phase wise Investment in Tiles, Sanitrayware and Bathware. The company targets to achieve Rs. 1,000 crore turnover in next 3 years and Rs.1,500 crore turnover in next 5 years.”
Salient features of the Plant:
- A separate legal entity will be formed as Sunshine Vitrious Tiles Pvt Ltd, which will sell its product under Sunhearrt brand.
- The plant will be operational as the first largest plant in the Indian ceramic industry in a total area of 99 acres.
- The plant will use the latest machinery to produce 51,000 square meters of glazed vitrified tiles per day.
- A total of three production lines will be fitted in the plant periodically, the first of which will be operational in a period of six months from today.
- The plant will have a total investment of Rs 270 crore in a phased manner and is expected to generate annual revenue of Rs 399 crore.
- The main objective of setting up this plant will be to cater to the export market.
- This plant will provide employment to over 750 people, directly, as well as indirectly.
