Mumbai: Somany Ceramics Ltd is looking at possible acquisitions of companies making faucets and bath fittings to accelerate its growth in these categories which now fetch less than a tenth of its overall revenues, a senior company official said. “We are evaluating a few options for inorganic growth of fitting brands in the faucet space at an enterprise value of Rs50-100 crore,” said Abhishek Somany, managing director, Somany Ceramics. Since 2 October 2014, shares of Cera Sanitaryware have gained 48.84%, Somany Ceramics 111.99% and Kajaria Ceramics 108.32%. Currently, Somany Ceramics has a sanitaryware plant under a subsidiary Somany Sanitary Ware Pvt. In fiscal year 2015, Somany Ceramics invested Rs90 crore in capacity expansion.

Source: Mint September 20, 2016 18:33 UTC