Exxaro Tiles Limited IPO
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Exxaro Tiles Limited is engaged in manufacturing and marketing of vitrified tiles used majorly for flooring solutions. The company commenced business as a partnership firm in 2007-08 as a manufacturer of frit, which is one of the raw materials used in manufacturing of tiles and have over the years, diversified, expanded and evolved into a manufacturer for vitrified tiles. The company’s business operations are broadly divided into two product categories i.e. (1) Double Charge Vitrified Tiles - tiles that are fed through a press which prints the pattern with a double layer of pigment, 3 to 4 mm thicker than other types of tiles. This process does not permit complex patterns but results in a long-wearing tile surface, suitable for heavy traffic commercial projects, and (2) Glazed Vitrified Tiles - Glazed vitrified tiles are flat slabs manufactured from ceramic materials such as clay, feldspar and quartz and other additives and fired at high temperatures to ensure high strength and low water absorption.