Aligns Plans with Shri Chandrababu Naidu’s call for Industrial Growth
Mumbai/Hyderabad, September 02, 2024: In a significant development, Regency Ceramics – a legacy ceramic manufacturing company listed on BSE/NSE has announced a structured takeover of Segno Ceramics Private Limited located in Bapatla district in Andhra Pradesh. The standout deal will grant Regency Ceramics complete control of the manufacturing plant, effective from August 22, 2024. This expansion aligns with Chief Minister Shri Chandrababu Naidu’s vision of fostering economic growth and creating job opportunities within the state. Regency Ceramics is committed to make a significant impact and aims to contribute to the industrial resurgence within the state.
Regency Ceramics has entered into an agreement without the burden of heavy capex spend, ensuring a marginal impact on cash flows. The all-cash deal will strengthen Regency Ceramics’ market position, particularly in South and East India. Spread over 50 acres, the plant has a production capacity of 3.6 million sq.mtrs (MSM) per year. The facility will enable Regency Ceramics to manufacture a diverse range of premium products including Glazed Vitrified Tiles and Polished Vitrified Tiles.
Mr. Satyendra Prasad Narala, Managing Director of Regency Ceramics, expressed his enthusiasm about the acquisition, stating “This strategic move addresses our immediate production needs and enhances our market presence. With our strong legacy and goodwill in states like Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Kerala, and Orissa, we are focused on achieving a revenue target of Rs. 100 crores in the next calendar year.”
The advanced machinery and robust manufacturing capabilities at the new facility, combined with Regency’s engineering and technical expertise, will enable the company to capitalize on the expanding ceramics market. Strategically located in Bapatla, the facility provides a high level of connectivity for exports, due to its proximity to Chennai and Krishnapatnam ports.
With the Andhra Pradesh government’s renewed focus on infrastructure development, Regency Ceramics is poised to contribute significantly to the state’s industrial revival and foster economic growth.
