The shareholders of Regency Ceramics Limited at its recently concluded Annual General Meeting, have approved the appointment of Mr. Satyendra Prasad Narala as the company’s Managing Director. Mr. Prasad moves up from his current position of Whole-time Director and CFO to Managing Director to guide the revival of the company.
Regency Ceramics aims to strengthen and develop avenues for growth opportunities in the Indian Ceramic market, expected to grow at a CAGR of 7-8% in the next 4-5 years.
As Managing Director, Mr. Prasad is tasked with re-crafting the Regency success story. He will focus on leveraging the brand’s goodwill in states like Tamil Nadu, Andhra Pradesh, Telangana, Kerala, Orissa and other markets. Strategically expanding business through contract manufacturing agreements with the latest production facilities, catering to the growing aspirations of consumers and widening market reach, are the focus in his new role. Mr. Prasad’s successful start-up experience will help in laying the right foundational steps and putting Regency Ceramics on track towards the revenue target of Rs. 100 crores in the next 3 years, with 100 distribution points across 30 cities.
On assuming the new role, Mr. Satyendra Prasad Narala, Managing Director – Regency Ceramics Limited said, “This is a pivotal time for Regency Ceramics as the company is geared up to revive its operations. Regency is known for its pioneering efforts in the Indian Tile Industry. The brand continues to command a great deal of recall & respect. The response we have received from various stakeholders on our return has strengthened our resolve and commitment to re-establish ourselves as an aspiring brand and march towards meeting the objectives we have set for ourselves. In this journey, we seek the support of the government and other entities to enable the economic revival of Yanam and the surrounding coastal areas of Andhra Pradesh.”
Satyendra Prasad Narala is a serial entrepreneur and since 2017 has been involved in the affairs of Regency Ceramics Ltd. His experience in business strategy, operations, project management, and creating valuable businesses will be instrumental in building solutions for Regency to drive long-term growth and value for all its stakeholders. The information that production at the Company’s factory will be restarting soon has been welcomed by all sections of the society.