Stonex sets up Rs 75cr marble plant in Rajasthan

Stonex India, which is engaged in marble and natural stones business, has invested Rs 75 crore to set up a manufacturing plant in Rajasthan for its organic growth and the company aims 40 per cent jump in turnover in 2018-19 financial year, a top official said. In 2017-18, the Delhi-based company posted a turnover of Rs 250 crore, of which Rs 200 crore came from sale of marble and rest from ceramic tiles/other stones, its CMD Gaurav Agrawal said. Almost 95 per cent of its sales came from imported marble segment, he added, "We have set up a state-of-the-art manufacturing plant at Kishangarh with an investment of Rs 75 crore. The production in the new plant started from April this year and we are utilising 75 per cent of the total capacity which is one crore sq ft annually," Agrawal told. In the plant, the company has introduced a new technology -- Stone Reinforcement System (SRS) -- for the Indian market to boost durability of marble.