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Monarch plans manufacturing unit in Hyderabad

Monday 10 October 2011

Modular office furniture and seating solutions provider Monarch Ergonomics, which imports furniture and supplies to domestic clients, is planning to set up a manufacturing unit near Hyderabad. The unit will be a joint venture between Monarch and its principal partner, Merryfair of Malaysia, which currently supplies the company with workstations and office furniture.

Typically, it takes six weeks for the orders to be honoured due to the imports. Once the manufacturing unit is set up here, Monarch will be able to reduce the service time by two weeks, its managing director Kotesh Jagannathan told Financial Chronicle. “The manufacturing unit set up will be preceded with by launch of new range of products from Merryfair in the Indian markets,” he said.

The manufacturing unit will also help the company bring down the prices, as it would save the existing 28 per cent import duty on products. Monarch is now serving the domestic markets with a huge inventory. “We can now deliver 1,000 workstations with chairs in four weeks,” he said, adding that the company now has a huge warehouse on the outskirts of Hyderabad.

The Hyderabad-headquartered company also has operations in Ahmedabad, Bangalore, Chennai, Delhi, Kolkata, Kochi, Mumbai, Pune and Trivandrum and last year has clocked Rs 90 crore. “We anticipate Rs 250 crore revenues in three years on the back of new products and clients,” said Jagannathan, adding that the company has been growing around 40 per cent a year. Repeat sales also contribute significantly to growth as the average life of furniture is around seven years, he said.

Monarch's customers include Axis Bank, ABN Amro, HSBC, Dr Reddy’s, ITC Park Sheraton, Vanenburg IT Park.

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