Bharat Value Fund (BVF), managed by Pantomath Capital Management, has invested Rs 150 crore in Marudhar Rocks International Private Limited. This private placement round gives BVF a 6.5% stake in the company, valuing Marudhar at around Rs 2300 crore.
Marudhar’s Growth Plans with New Funding
The Directors of Marudhar Rocks, including Jitendra Kothari, Vikas Kothari, Avinash Mehta, and Ronak Kochar, expressed their excitement about this investment. They plan to use the funds to boost growth by improving production capabilities and investing in advanced technologies. This will help expand Marudhar’s reach both in India and international markets, meeting the rising demand for their premium surfaces and stone plastic composite (SPC) flooring.
About Marudhar Rocks
Founded in 2010, Marudhar is a leading manufacturer of premium-engineered quartz surfaces and SPC flooring in India. With a production capacity of 2 million square meters per year, Marudhar operates facilities in Jaipur, Rajasthan, and two other locations in Tamil Nadu. Their products are exported to key markets like the USA, UK, Canada, Australia, Italy, the Middle East, and Vietnam.
Cutting-Edge Technology in Manufacturing
Marudhar uses advanced technologies like Bretonstone Technology, making it one of the few companies in the world capable of producing large-format Super Jumbo and Jumbo-sized premium surfaces. In 2021, they expanded by acquiring a Bretonstone-powered quartz surface manufacturing facility in Jaipur, strengthening their manufacturing capabilities.
BVF’s Confidence in Marudhar’s Future
Madhu Lunawat, Chief Investment Officer of Bharat Value Fund, shared BVF’s positive outlook on Marudhar’s future. He praised Marudhar’s strong business model, premium product range, experienced founders, and dedication to quality and sustainability. BVF believes Marudhar has great potential for growth, both in production and global market expansion.
Strong Financial Performance
In the financial year 2024, Marudhar posted revenues of Rs 518 crore with impressive profit margins. The company achieved a 36% EBITDA margin and a 27% profit after tax (PAT) margin, showcasing its strength in the global building materials industry.
