Euro Panel Products Ltd., which caters to the actual property and industrial sectors, has introduced plans to speculate ₹35 crore to enhance capacity to fulfill the rising demand for its merchandise, managing director Rajesh Shah stated.
He stated the corporate would add two extra manufacturing traces to take the capacity to 30,000 sq. metres a day.
Currently, it has 4 traces for manufacturing at its unit in Umargaon, Gujarat.
“We are expanding it to a six-line production unit,” Mr. Shah stated. “Our fifth line will be functioning within two months, and by June 2024 the sixth line will be functioning,” he stated. “With this we will have a total production capacity of 30,000 sq. mt. daily,” he added.
He stated the corporate was importing another equipment and entering into backward integration, particularly for the color coating of imported aluminium coils. This could be up and operating by June 2024.
The firm’s merchandise are utilized in the actual property sector for cladding. These are notably utilized in hoardings, promoting, boards, ceilings, and petrol pumps. This 12 months working with its full capacity it’s anticipating a progress of 20%.
“Next year we are expecting a growth of 25% and aim to reach revenue target of ₹500 crore by FY25,” he stated.
The firm, listed on NSE Emerge, exports its ACP panels to Sri Lanka, Nepal, Qatar, USA, Turkey, Egypt, Brazil, Kenya, Oman, Cameroon, Uganda. Plans are afoot to penetrate into extra markets.
