Listed companies like Kajaria and Somany have long been the face of the Indian tiles industry. Increase in scale, reach, and visibility has enabled these companies to register a superlative performance financially – something that is well reflected in the improvement of their valuation multiples.
However, the past decade has seen the emergence of several unlisted players from Gujarat. A tight grip over manufacturing costs, focus on quality, and increasing reach are some of the common threads that have enabled these companies to rack up credible growth in market share and revenues. With their eyes firmly set on becoming sizeable national brands in the next decade, GV interacted with some of India’s best mid-sized unlisted tile companies
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