Everest Industries to start exports to Aus,NZ

Building material maker Everest Industries said it will start exporting its products to the Pacific region.

Building material maker Everest Industries said it will start exporting its products to the Pacific region,including Australia and New Zealand,in the next six months as it looks to expand its presence overseas.

The company,which primarily exports fibre wall boards,will consider setting up a new facility in India within a year to augment capacity to meet robust demand of this product.

“We are considering to expand our overseas presence and looking at the Pacific region. We are holding discussions in Fiji,Australia and New Zealand,” Everest Industries Executive Director (Operations) Y Srinivasa Rao said.

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At present,testing and certification processes for the products are going on in these new locations and the company is likely to introduce the fibre wall boards within next 5-6 months,he added.

The company at present exports mainly fibre cement boards used as walls in modern buildings to the Middle East,the UK,Germany and Italy.

Everest Industries has five manufacturing facilities in Kolkata,Nashik,Coimbatore,Kymore (in Madhya Pradesh) and Roorkee. It makes products like roofing materials,fibre wall boards and steel building solutions.

On the need to set up a new plant,Rao said the company is at present utilising almost 100 per cent of its 90,000 tonnes of total installed capacities across different plants.

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“For exports markets,we are facing capacity constraints. Also,exports are growing. So,we have to consider a new facility in one year time,” Rao said.

He,however,said no decision has been taken yet on where the unit will come up and how much could be the investment.

The company is now de-bottlenecking operations and other efficiency enhancement measures to increase productivity till the new plant come up,he added.

Everest clocked a total income Rs 660 crore in 2009-10 and exports contributed Rs 39 crore in it.

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“We are hoping that the exports will grow by 20-25 per cent,while the total income is expected to grow 12-15 per cent in 2010-11,” Rao said.

In the last 4-5 years,the company’s revenue has been increasing at 20-25 per cent compound annual growth rate. “In 2010-11,it is slow because the market did not pick up well,and also because of our capacity constraints,” Rao said.

Last month,the company had said it will set up a new manufacturing facility in East India to cater to the growing demand as it aims to cross Rs 1,000 crore revenue in 2011-12.

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