Orientbell Tiles invests to add Capacity of 0.7 MSM at Sikandrabad GVT plant

Orientbell Tiles Ltd's (OBL's) Board has approved adding capacity at an existing GVT tile plant at Sikandrabad (Bulandshahar district, UP). The current capacity of this GVT tile plant is 3.3 MSM p.a. and post the completion of the capex, the capacity will increase to 4.0 MSM p.a.

The debottlenecking project will involve a capex of under Rs. 11 Crores and the process will be completed by Q1FY23.

"This is the 3 growth capex initiative that we have agreed for in the last 9 months".

With this, the overall capacity of our own manufacturing facility at Sikandarbad would increase by 2.4 MSM p.a. by early FY23 vs. what we had in Q2FY21.

The debottlenecking project is not only capital efficient but also allows us to participate in the demand growth that we continue to witness in North and East India.

We continue to stay cash positive, and this project will also be funded via internal accruals. Aditya Gupta, CEO, Orientbell Tiles commented on the occasion.

Shares of ORIENT BELL LIMITED was last trading in BSE at Rs. 424.6 as compared to the previous close of Rs. 360.1. The total number of shares traded during the day was 50542 in over 3003 trades.

The stock hit an intraday high of Rs. 432.1 and intraday low of 362.3. The net turnover during the day was Rs. 20420855.

Source : Equity Bulls

Keywords