Royale Touche looking at entering new product categories by next fiscal

Royale Touche, manufacturer of premium laminates and vitrified tiles, is looking at entering new product categories including plywood and medium-density fibreboard MDF by next fiscal.The company, which is aiming to clock sales of up to Rs 500 crore in the current fiscal, is open to both, acquiring a player or getting into new categories on its own.Business has recovered drastically and we have been seeing growth since September.

Royale Touche, manufacturer of premium laminates and vitrified tiles, is looking at entering new product categories including plywood and medium-density fibreboard (MDF) by next fiscal.

The company, which is aiming to clock sales of up to Rs 500 crore in the current fiscal, is open to both, acquiring a player or getting into new categories on its own.

''Business has recovered drastically and we have been seeing growth since September. Given that we lost 3-4 months of business (due to nationwide lockdown to stop spread of COVID-19), we are aiming at clocking Rs 500 crore sales in the current fiscal,'' Royale Touche Director Raj Patel told PTI.

The company had reported sales of Rs 450 crore in the previous financial year.

''There are a few business opportunities we are exploring...it would be primarily interior based products and in sync with what we already do. We are exploring products like plywood and MDF,'' he added.

Patel said Royale Touche is open to acquiring a company with a high quality product line or investing and starting from scratch to get into the new product categories.

Apart from laminates and vitrified tiles, the company is also present in adhesive and modular furniture business.

''Adhesive and modular furniture are smaller businesses, but there is lot of scope to push these products in the market. We are looking at expanding these businesses. Hopefully, these businesses will become good revenue generator for the company in the next three years,'' he said.

Adhesive and modular furniture together contribute Rs 10-12 crore to the company's sales.

Royale Touche also plans to invest up to Rs 12 crore to enhance manufacturing capacities at its factories in Gujarat.

''Our factories are operating at 80-85 per cent capacity, but looking at demand and growth, in next three months we plan to increase our manufacturing capacity by about 35 per cent. We plan to invest Rs 10-12 crore towards that,'' Patel said.

The company is also looking at increasing its experience centres by adding 50 outlets in next three years.

It currently has over 148 experience centres spread across the country.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)