Nitco Ltd. — Regulatory Filings 2020

Jul 29, 2020

July 29, 2020

To,

Corporate Service Dept.	The Listing Department,
	National Stock Exchange of India
BSELimited	Limited
Jeejeebhoy Towers	Exchange Plaza, Bandra Kurla Complex,
Dalal Street,	Bandra (E),
Mumbai –400 001Script code: 532722	Mumbai –400051
	Script code: NITCO

Dear Sir/Madam,

Sub: NITCO forays into US tile market

Please find enclosed a communication that is self explanatory.

We request you to take note of the same.

Yours faithfully, For NITCO Limited

Puneet Motwani Company Secretary & Compliance Officer

NITCO forays into US tile market

The first Indian tile company to enter one of the large-counter retail entity in US

NITCO has been the only and the first Indian tile brand to carve an entry as the preferred tile brand supplier for one of the large counter retail entity in US. It has secured the largest export business order on the strength of its design and quality, garnering an entry across more than 1000 stores in US.

The customer is a US based large-counter retail entity specialising in sales of hardware, home improvement and seasonal interior decoration products catering mainly to the home improvement professionals, construction and Do-It-Yourself (DIY) concept clients. It operates retail chain stores across US and Canada and is one amongst the top five in the Home improvement Retail industry in US and the world.

First large export order to US

NITCO will be completing despatch of the initial order for $1.2 Mio (with a possible upside of another $1.8 mio by FY22) for supply of Porcelain tiles during the current quarter with due compliance under RESA (Retail ethical sourcing assessment) and CTPAT (Custom Trade Partnership against Terrorism).

Accomplishment of this export order reaffirms NITCO's strength in creative design, innovation and as a trendsetter brand. The team visited Italian quarries to procure natural stones and created designs, scanning from the right colour/type of stones that led to the success of the order. This will enable NITCO to establish a strong presence in US market and tap other customers in the region.

ABOUT NITCO

NITCO was established in 1953 by Late Mr. Pran Nath Talwar, a first generation entrepreneur. The company is engaged in providing floor and wall solutions with a portfolio comprising a comprehensive range of tiles, marble and mosaic. Our prime vision is to continuously improve the quality and design of products and to constantly increase consumer focus. Headquartered in Mumbai, our pan-India presence is facilitated through offices and distribution network across the country. NITCO enjoys a sizeable client base overseas and exports to over 40 countries.