Centuary Fibre Eyes Greenfield Plant In Western Region
Centuary Fibre Plates, a leading mattress maker in the country, is on expansion mode, ramping up its existing manufacturing units, while exploring potential for setting up of a greenfield plant in the western region of the country.
Uttam Malani, Executive Director, Centuary Fibre Plates, said, “We are functioning at about 85 per cent capacity utilisation of the existing capacity of 50,000 mattresses per month. This has forced us to expand our existing facilities and to explore new plants. We are in the process of evaluating setting up greenfield plants in the western and northern region, which will enable us to have a strong pan-India presence. Typically, one Greenfield plant, which has capacity to make 20,000 mattresses per month, entails an outlay of ₹50 crore. The process of identifying the location is now under way. Gujarat, Maharashtra and Rajasthan are being considered for the western region plant. The initial focus is on this plant before we embark on a plan to set up another plant in North India. As a three-decade-old company, which manufacturers most of the items used in the mattress industry, we have become one of three major mattress makers in the country in a market estimated at Rs7,500 crore, and of this, nearly 60 per cent is unorganised. We closed last fiscal with a turnover of Rs290 crore and are aiming to double this by 2020. Our long term aim is to become the No.1 mattress maker in the country by 2025. The company has been growing at a CAGR of about 18 per cent against the industry growth of about 10-11 per cent and hopes to sustain this growth momentum. “
Malani also said “Our foams form components of a mattress apart from that they go into furniture sofas, footwear, automobiles, garments and packaging. The GST cut brought down from 28 per cent to 10 per cent will provide an added boost to the growth of the sector. Being an integrated mattress company, which manufactures all its products, starting from raw materials to the end product, its integrated units provide an edge in the mattress industry. This is aided by a network of over 2,500 dealers and over 170 exclusive franchise retail outlets.”