Euro Panel Products Ltd., which caters to the real estate and industrial sectors, has announced plans to invest ₹35 crore to enhance capacity to meet the growing demand for its products, managing director Rajesh Shah said.
He said the company would add two more production lines to take the capacity to 30,000 sq. metres a day. Currently, it has four lines for production at its unit in Umargaon, Gujarat. “We are expanding it to a six-line production unit,” Mr. Shah said. “Our fifth line will be functioning within two months, and by June 2024 the sixth line will be functioning,” he said. “With this we will have a total production capacity of 30,000 sq. mt. daily,” he added. He said the company was importing one more machinery and getting into backward integration, especially for the colour coating of imported aluminium coils. This would be up and running by June 2024. The company’s products are used in the real estate sector for cladding. These are particularly used in hoardings, advertising, boards, ceilings, and petrol pumps. This year working with its full capacity it is expecting a growth of 20%. “Next year we are expecting a growth of 25% and aim to reach revenue target of ₹500 crore by FY25,” he said.
The company, 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 more markets.