With a rich heritage spanning over three decades, Regency Ceramics Limited ("Regency/Company") is set to make a return to the market. Renowned for its exceptional quality, intricate designs, and lasting durability - the Company's recall value has motivated it to relaunch itself in its key markets. Chennai was chosen as the first city to receive Regency natural tiles after it re-started its market operations. Regency's dealers in Chennai received Regency's glazed vitrified tiles which has resonated with a wide audience, as the customers have highlighted the quality, design, and packaging as outstanding.
With a cumulative investment of approximately Rs. 70 crores in its own production facilities, the company, has a well-placed go to market strategy to expand business through contract manufacturing agreements with latest production facilities. Regency is set to start the first of its four manufacturing lines before the end of 2023. The Company's first line will produce 7,000 sq meters a day; and expand to reach a daily production capacity of 25,000 sq m a day. The 'Renaissance range of Regency' will have a wide range, in all sizes and variety - glazed vitrified tiles, full body vitrified tiles, polished vitrified tiles, double charged tiles, wall tiles, exterior tiles, steps, and risers.
Mr. Satyendra Prasad Narala, Whole-time Director and CFO of Regency, said, "We are humbled by the positive reception to Regency's relaunched products, received from both, our valued dealers and discerning consumers in Chennai. With a strong brand equity and a well-placed go to market strategy, we are all set to expand business progressively to markets in southern and eastern part of India. We have a legacy, strong goodwill, and recall value in states like Tamil Nadu, Andhra Pradesh, Telangana, Kerala, and Orissa and we are focused on attaining a revenue target of Rs. 100 crores over the next three years."
With an aim for a pan-India presence, Regency has a three-pronged approach for its distribution strategy. The Company has established a wide network of dealers to cover various regions. It proposes enduring relationships with key influencers like architects and interior designers. Additionally, Regency's showrooms will be set up in strategic locations and capital cities to showcase products. And standalone experience centers will be home to the varied range of Regency products and will offer customers an immersive experience.
Regency is committed to revive the economy of Yanam and the surrounding coastal regions of Andhra Pradesh. The information that restarting of production at the Company's factory has been welcomed by all sections of the society.
Shares of Regency Ceramics Limited was last trading in BSE at Rs. 29.48 as compared to the previous close of Rs. 28.91. The total number of shares traded during the day was 4921 in over 20 trades.
The stock hit an intraday high of Rs. 29.48 and intraday low of 28.60. The net turnover during the day was Rs. 143979.00.