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Nirmal Bang Report
La Opala RG Ltd.'s operational performance has shown consistent improvement starting Q2 FY22, with the company's quarterly revenue run-rate improving without compromising profitability.
While we understand that the same has been driven by pent-up demand, the much-awaited distribution expansion and more than 50% capacity addition, this positive trend is expected to continue in our view as the Opalware market is expected to grow at a faster pace.
While the Opalware industry's growth over the last five years was mainly driven by growth and market share gains by Borosil and Cello, all the incumbents have not even scratched a surface, in our view.
The contribution of Opalware in the overall tableware market has been in single digits.
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