Moulded furniture firm Nilkamal has announced that it will invest up to Rs 60 crore in three years to expand manufacturing capacity of the mattress segment, said a PTI report. The company, which entered the mattresses business in 2012, is targeting Rs 100 crore turnover from this segment next fiscal. Nilkamal had a turnover of Rs 2,000 crore in 2013-14.
Speaking about the expansion plans, Hiten Parekh, Executive Director, Nilkamal, said: “Over the next three years, we will invest Rs 50-60 crore for capacity expansion. Nilkamal Mattress divisions growth and expansion plan includes setting up additional factories in the West, North and Central India. this additional investment will push up the production capacity to about 4,50,000 units per annum.”
According to PTI, the company has two manufacturing units at Hosur near Bangalore and at Dankuni in Kolkata, set up with an investment of Rs 27 crore and with a current production capacity of 1,80,000 units per annum.
“We will be offering a whole new range of innovative sleeping products such as mattresses, pillows, protectors, and quilts,” Parekh added speaking on the sidelines of launching two products ‘side sleeper monarch’ and ‘seriesEX: valentine mattrezzz’ priced at Rs 30,000 and Rs 40,000, respectively.