Vesuvius India - Leading Player In Refractories Market: ICICI Direct
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ICICI Direct Report
Vesuvius India Ltd. is a subsidiary of the Vesuvius Group, UK. It is a leading metal flow engineering company.
The company supplies high performance refractory material to the steel industry and other process industries used for lining vessels such as blast furnaces, ladles and tundishes to enable them to withstand high temperatures and/or corrosive attack.
Shaped refractories account for ~37% of revenue in CY20 followed by unshaped refractories (~37%) and services (~ 26%).
It holds ~11% market share in the Indian refractories industry.
Vesuvius is focused on capturing domestic market share through faster growth in the manufactured goods segment through localised manufacturing and new product launches. Currently, manufactured goods contribute 50-55%.
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