Kanpur Plastipack Ltd approves expansion project

The Board of Directors of Kanpur Plastipack Ltd have approved the new capex for Proposed Cast Polypropylene (CPP) project at Gajner Road, Kanpur Dehat.

The capex project cost is Rs. 96.78 Crores. Out of which, Rs. 62 Cr will be raised through Term Loan from Bank (Under Consortium financing) and Rs. 34.78 cr through internal accruals.

The company wishes to diversify its product portfolio and, simultaneously enter into a low manpower and high capex line of business, whose primary focus would be the domestic market. KPL now proposes to set up a production line for manufacturing of Cast Polypropylene (CPP) film at the existing location of Gajner Road (Unit 3) plant located at Village Fatehpur Roshnai, Kanpur Dehat. The machines selected would have an installed numberplate capacity of 9750 MT per annum. The company is confident of being able to market all its production according to plans.

Shares of Kanpur Plastipack Limited was last trading in BSE at Rs. 139.10 as compared to the previous close of Rs. 154.20. The total number of shares traded during the day was 49953 in over 1362 trades.

The stock hit an intraday high of Rs. 151.50 and intraday low of 138.80. The net turnover during the day was Rs. 7050813.00.

Source : Equity Bulls

Keywords

KanpurPlastipackLimited INE694E01014 KANPRPLA Capex CastPolypropylene GajnerRoad KanpurDehat