Riba Textiles Limited to expand capacity

Riba Textiles Limited is going to expand its capacity at the existing unit situated at Village Chidana, Tehsil Gohana, District Sonepat - Haryana by adding 8 Airjet Looms with other Allied machineries and New building, for manufacturing of Towels and expand Packing department area, by way of expansion.

The existing capacity of the company is 7000 (MTPA) and the current capacity utilization is 4550 (MTPA). The company has proposed capacity addition of 1200 (MTPA) in its existing facility.

The capital outlay for the expansion project is Rs 1750 Lacs, which will be funded through term loan from bank of Rs 1290 Lac and own contribution of Rs 460 Lacs.

The expanded capacity will be commissioned partially in February 2021 & fully in October 2021.

Shares of RIBA TEXTILES LTD. was last trading in BSE at Rs.60.9 as compared to the previous close of Rs. 58.85. The total number of shares traded during the day was 116224 in over 193 trades.

The stock hit an intraday high of Rs. 61.9 and intraday low of 55.3. The net turnover during the day was Rs. 6794055.

Source : Equity Bulls

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