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PNN
Hyderabad (Telangana) [India], November 14: City-based Pokarna Engineered Stone Limited (PESL), a leading player in premium engineered stones, announced its mega plans to invest Rs 440 crore on expanding its state-of-the-art manufacturing facility at Mekaguda in Telangana. Under this expansion, the company will set up a third Bretonstone production line from Breton S.p.A. of Italy, setting a new benchmark in both capacity and sustainable manufacturing. The new production line, which will be operational by March 2026, will help the company meet the surging demand for its innovative products. It will add 8.1 lakh square meters of production capacity. This investment reflects PESL's ongoing mission to provide the global market with products that dexterously balance sustainability and superior craftsmanship. Gautam Chand Jain, Chairman and Managing Director, PESL, highlighted the significance of this expansion, stating, "For PESL, growth is not just about increasing capacity; it's about advancing with purpose. This new chapter empowers us to champion sustainable innovation, creating premium surfaces that honour our commitment to quality and environmental responsibility. With this investment, PESL solidifies its position on the global stage as a brand synonymous with excellence, integrity, and purpose." When PESL launched Unit 2 in March 2021 at Mekaguda, the facility was designed with scalability inmind. This forward-thinking approach enables PESL to integrate the new production line seamlessly, ensuring minimal disruption to existing operations as it broadens its reach to serve a growing international clientele, the company said in a statement. Paras Kumar Jain, CEO of PESL, said: "This new Bretonstone line represents more than just expanded capacity - it's a leap forward, bringing in world class technology to elevate our standards of innovation, automation, and sustainability. We are dedicated to producing surfaces that reflect both craftsmanship and conscience, embodying our vision of a brighter, more responsible future". This expansion marks an exciting milestone in our journey to redefine quality and innovation in the engineered stone industry, he added. Q2 financial results.. Pokarna Limited posted a net profit of Rs 44.96 crore for the second quarter ending on September 30, 2024, an increase of 37.49 per cent compared to the same period a year ago. The company's total revenues zoomed 24.33 per cent to Rs 253.46 crore during the quarter under review. Its EBITDA stood at Rs 88.29 crore, a growth of 20.67 per cent compared to Q2FY24. It reported an EBIT of Rs 77.76 crores, a growth of 22.44 per cent compared to Q2FY24. The company declared an EPS of Rs 14.50, a growth of 37.49 per cent compared to Q2FY24. H1 financial results.. For the six months period ending with September 30, 2024, Pokarna Limited reported 54.18 per cent upswing in net profit to Rs 78.05 core. During the period, the company's total revenues surged by 22.47 per cent to Rs 450.8 crore compared to H1FY24. Its EBITDA stood at Rs 154.10 crore, up 26.55 per cent. Pokarna limited declared an EPS of Rs 25.17 for the six-month period, up 54.18 per cent. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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