The Economic times. Indiatimes– Kochi: The Punjab-based Savitri Woods is expanding its footprint in South India with its entry into Kerala.The maker of Wigwam brand of plywood has a good presence in North India but has limited share in the southern parts.
“We plan to earn around Rs 3.25 crore per month in the first year of operation in the state,’’ said M L Pramod Kumar, chief of marketing and operations of Savitri Woods. The market size of branded plywood in Kerala is around Rs 20 crore per month.
The Indian plywood industry is dominated by unorganised players. Though the total size is around Rs 30,000 crore, the share of organised players will be about Rs 9,000 crore, Kumar said. “The Indian plywood industry is growing at a robust 15 to 17% annually despite the increasing presence of alternatives such as medium density fibrewood (MDF) and particle boards.’’
Savitri Woods has set up a fully automated plant at Hoshiarpur with latest technology from Italy, China and Japan with a capacity of more than 425 trucks (each truck worth Rs 20 to 21 lakh). “We have already made inroads into the Indian market with international quality products,’’ he said adding that the company hopes to gain a market share of 4 to 5% in Indian market in the next few years among organised players.