Gujarat-based Varmora Granito Pvt Ltd, a leading tile and bathware brand, announced on Friday that it has invested ₹400 crore in establishing two new manufacturing plants in Morbi. One of the plants will specialize in producing artificial stones that mimic the appearance of natural marble. The combined production capacity of the two facilities is 17 million square meters (msm) annually, raising Varmora’s total capacity to 58 msm.
The new plant will employ Integrated Stone Technology (IST), an advanced method sourced from Italy, which allows the production of artificial stones that are stronger, stain-resistant, and more affordable than natural marble, according to BhaveshVarmora, Chairman of Varmora Group.
The IST technology has been procured from Sacmi with exclusive rights for two years, giving Varmora a significant first-mover advantage in the market. Although there is strong demand for such products in the United States and Europe, Varmora plans to focus on the Indian market.
The second plant, with a capacity of 12 million square meters, will manufacture tiles and bathware products. The two plants are expected to create over 600 jobs. In the fiscal year 2023-24, Varmora reported sales of ₹1,490 crore, with exports accounting for 20% of its total revenue. The company currently operates 15 manufacturing facilities in Morbi. Global investment firm Carlyle, which acquired a minority stake in Varmora in June 2022, backs the company.
Varmora Granito Pvt Ltd is a prominent manufacturer based in Gujarat, India, specializing in tiles and bathware products. Founded with a commitment to quality and innovation, the company has grown to become a significant player in the ceramics industry, boasting a substantial manufacturing capacity across multiple state-of-the-art facilities in Morbi.
Known for its diverse product range, Varmora combines advanced technology with creative design, catering to both domestic and international markets. With a focus on sustainability and technological advancements, the company continues to expand its footprint, supported by strategic investments and partnerships, including backing from global investment firm Carlyle.
