Shree Malani Foams Pvt Ltd has made an investment of Rs 60 crore towards the new unit and the company is looking at aggressive geographical expansion into West Bengal and North East India in the next two years.
Shree Malani Foams Pvt Ltd, a leading mattress and PU foam brand with a 3-decade legacy from the house of Centuary mattresses, is geared up to launch a new manufacturing facility in Odisha. The cutting-edge, one-of-its-kind plant in Eastern India will be one of the largest foam plants in the country; and marks the second investment of the group in Odisha – on the back of the Centuary mattress manufacturing plant which was set up in 2015.
The greenfield unit added to Shree Malani Foams’ infrastructure with a massive investment of Rs 60 crore will help the company increase its overall revenue by 50 percent in the next two years. This growth will be driven not only by the expansion of production but also by the new unit’s geographical proximity to the relatively remote Eastern markets. The company is planning an aggressive expansion into West Bengal and the North-Eastern states with an overarching goal to capture 25 percent of the market share in the Eastern markets within 2 years. The group’s mattress brand Centuary already commands a market leadership position in Odisha with a market share of close to 30 percent.
Shree Malani Foams has commissioned best-in-class European machines to create the highest quality products for its vast consumer base. The company that already manufactures 10,000 tonnes of PU foam annually at its Hyderabad facility under Centuary Mattresses, will now be doubling its manufacturing capacity with the new plant.
Siddharth Malani, Managing Director, Shree Malani Foams, said, “The launch of our brand new, world-class manufacturing unit in Odisha is a foamtastic occasion for us at Shree Malani Foams. We are looking forward to ramping up production and boosting our revenues over the next few years. West Bengal and North East India represent relatively untapped markets with fewer high-quality products. With our new manufacturing unit, we will be looking at bridging the existing market gap and providing consumers with dependable home furnishing and furniture products to bolster their standard of living.”
In a bid to mark this occasion, the company will be hosting an exclusive launch event and plant preview for 50 key stakeholders including vendors, customers, and service providers.