Vardhman Textiles Ltd to enhance spinning capacity

The Board of Directors of Vardhman Textiles Ltd in its meeting held on 27th October, 2021, has approved to enhance the existing Spinning capacity of the Company.

The existing capacity of 12 lakh equivalent spindles (approx.) (including under implementation) is running at capacity utilization of 95% (approx.)

The company has proposed capacity addition of 1.65 lakh equivalent spindles in 2-3 years at an investment outlay of Rs. 1400 crores (approx.). The funding will be raised through internal accruals and debt.

The capacity addition is proposed to bring better business synergies, competitive advantage and to meet increased demand.

Shares of Vardhman Textiles Limited was last trading in BSE at Rs. 1990.65 as compared to the previous close of Rs. 1812.30. The total number of shares traded during the day was 52363 in over 6574 trades.

The stock hit an intraday high of Rs. 2070.00 and intraday low of 1837.20. The net turnover during the day was Rs. 104315819.00.

Source : Equity Bulls

Keywords

VardhmanTextiles INE825A01012 VTL Textiles ExpansionProject SpinningCapacity