Regency Ceramics appoints new MD

The shareholders of Regency Ceramics Ltd at its recently concluded Annual General Meeting have approved the appointment of Satyendra Prasad Narala as the company’s Managing Director. He 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 per cent in the next 4-5 years. As Managing Director, 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. Prasad’s successful startup experience will help in laying the right foundational steps and putting Regency Ceramics on track towards the revenue target of Rs 100 crore in the next three years, with 100 distribution points across 30 cities.

On the occasion, Prasad 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.”