The Hindu Business Line : La Opala eyes 40% market share

Kolkata, Oct. 8 La Opala RG Ltd is targeting 40 per cent share of the country’s Rs 500-crore luxury crockery market in three years to become the leading player in the segment, according to its Managing Director, Mr Sushil Jhunjhunwala. Its present market share is over 25 per cent.

The crockery accounts for 25 per cent of the Rs 2,000-crore luxury utensils market, stainless utensils accounting for the rest.

Addressing media persons on the sidelines of a conference here on Wednesday, he said, “While the luxury crockery industry is growing at 10-12 per cent, we hope to grow our turnover by nearly 40 per cent to Rs 100 crore in 2009-10.” Its profit was also expected to increase from Rs 1.5 crore to Rs 10 crore for the fiscal, he added.

The growth would be fuelled by the increase in production capacity due to the commissioning of its new factory at Sitarganj in Uttarakhand, he said.

“Last year our growth was lower at 25 per cent since the new plant was not operational for the entire fiscal,” he said, adding that the company expected to grow consistently at 25 per cent from 2010-11 onwards. The company manufactures nearly 5.2 crore crockery pieces worth Rs 150 crore a year. The company was looking at ramping up exports with the launch of a new range of light weight range called Diva, Mr Jhunjhunwala said.

It exports 30 per cent of its crockery range and 70 per cent of the crystal glassware produced in the country.

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