HYDERABAD, May 18: Centuary Mattresses, part of Shree Malani Group, one of India’s leading mattress brand has launched ‘The Hybrid Collection’, a superior technology product in the luxury segment here on Saturday to grab 5% revenue growth in FY 20.
Speaking on the occasion, the Company Executive Director Uttam Malani claimed that The Hybrid Collection, a first of its kind technologically superior mattress uses a combination of seven layers and introduced ‘Microspring’ version in this segment for the first time in industry to target the niche customers demanding high quality product.
Latest foam used in the latest Hybrid Collection was imported from Belgium, he said the new product available in 4 variants priced from Rs 40,000 to 80,000 and offering 10 years warranty.
Explaining the strategic plans for FY 20, Uttam said the current capacity of mattress unit at Bhuhaneshwar will be scaled upto 1.50 lakh units per annum from 80,000 units and also planning to increase 5,000 outlets from 3,500 existing across the country.
The mattress overall market size in the country was Rs3,500 crores and growing by 8 per cent, he said the company is growing between 11-12 per cent and expected 30 per cent growth in next 5 years.
The market share in Telangana state was 22 per cent and we are well on the course of growing the revenues steadily at 30 per cent per annum and aim to reach the top slot in Indian bedding and comfort industry he said.
The consolidated revenue of Centuary Mattresses and its sister company Shree Malani Foams was Rs 415 crore in the FY19 and we are expecting the Hybrid Collection to contribute around 5 per cent in our revenue for the FY20, he added.
Every year investing between Rs 10-12 crores and the current capacity of 3 mattresses units located at Hyderabad (2 units) and Bhuhaneshwar (1 unit) was 6 lakh units per annum, he added. (UNI)