Rakesh Jhunjhunwala backed Jaipur-based Raghav Productivity Enhancers tie-up with global leader Capital Refractories to supply silica ramming mass
Jul 20, 2022
New Delhi [India], July 20 (ANI/PNN): Raghav Productivity Enhancers Ltd and Capital Refractories Ltd have entered in an arrangement to partner for the sale of Silica Ramming Mass to the Foundry and Casting industry worldwide.
Capital refractories will leverage its global distribution set-up to grow the business of Silica Ramming Mass with its Foundry and Casting customers. The product packaging shall be exclusively designed to have Raghav's Logo and the statement "Produced by Raghav Productivity Enhancers Ltd" along with the artwork of Capital Refractories, leading to a co-branding arrangement.
Regarding the development, Managing Director of Raghav Productivity Enhancers Ltd, Rajesh Kabra said, "The Foundries market is one of the highest value add markets for Silica Ramming Mass manufacturers and will provide the next growth leg to our company. Our R&D efforts of the last five years have led to the onboarding of an ace partner like Capital Refractories, and we look forward to taking a significant leap forward in the foundry and casting market with the help of this tie-up."
Rakesh Jhunjhunwala invested Rs 30.90 crores in the company for their new ramming mass plant. The plant is being set up using the company's proprietary process and will be operating from October 2022. Earlier in 2021, marquee capital market investors like Ramesh Damani, Utpal Sheth, Mukul Agarwal, L.N. Bangur and Prateek Kela invested in the company.
Raghav Productivity is the pioneer in setting up a fully automated Silica Ramming Mass plant, for which it also filed a global process patent in October 2018. It is the only company in the mineral sector having Government certified R&D facility, approved by the Department of Scientific and Industrial Research (DSIR).
Raghav has established global leadership in the Silica Ramming Mass market by its ability to customise the products for its customers at a large scale and lowest cost. This has resulted in market share gains, fast penetration in export markets and an improving margin profile over the last five years.
The company was listed on BSE in 2016 at a market capitalisation of Rs 28 crores, which has now crossed Rs 600 crores, giving investors a return of more than 2000 per cent.
Raghav Productivity Enhancers Ltd is the world's largest manufacturer of silica ramming mass. It exports to over 30 countries in Asia, Africa and the Middle East countries. It is one of the few silica ramming mass players to break geographical barriers due to its superior product quality and customisation processes achieved through extensive R&D over the last ten years.
Capital Refractories is one of the world's largest refractory companies, headquartered in the UK; It has a refractory distribution network spanning all six continents in 67 locations. It has manufacturing plants across eight countries for various monolithic and castable refractories used in Foundry and Casting units.
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