With its 1.5Mta Tuticorin plant, Tamil Nadu, expected to be commissioned in January 2017, My Home Industries is set to see its production capacity increase to 10Mta.
Speaking of its ambitions in the sector, J Rameswar Rao, chairman of My Home Industries, said, “We want to go in for acquisitions in north, central and western India to further increase the capacities.”
My Home Industries became a major player in the sector following its acquisition of Shriram EPC’s 3.2Mta plant in Kurnool in 2013. Before the purchase the plant was facing a INR6.8bn (US$101.5m) loss, but following a INR7bn investment it has since logged a INR1.24bn profit the the last fiscal year.
My Home Industries currently operates two integrated plants at Mellacheruvu in Nalgonda district and Yanakandla in Kurnool district. It also operates a grinding unit at Mulakalapalli in Visakhapatnam district of Andhra Pradesh.
