Pokarna to Make $48 Million Quartz Investment

SECUNDURABAD, India – Pokarna Ltd. will expand the production of its signature Quantra quartz-surfaces with a new plant that should be completed in June 2018.

In a filing with Mumbai-based stock exchanges on Jan. 13, Pokarna announced that its wholly owned subsidiary, Pokarna Engineered Stone Ltd., will build a new factory (a “greenfield facility”) with a new investment of approximately $48.75 million (Rs. 325 crore).

Pokarna will bring $11.25 million in cash and accrued revenue to the deal, with the remaining $37.5 million financed through bank loans.

Pokarna estimates the new plant will increase production capacity by 130%.

The expansion is in line with Pokarna’s advancement as a quartz-surface manufacturer. In its fiscal year 2016 report filed last May, quartz surfaces accounted for 51% of all company revenue, with granite contributing 47%.

While granite revenues rose by a marginal 0.55% from fiscal year 2015, quartz surfaces grew by 47.79% during the same 12-month period.

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