Diligent Industries Ltd completes green field Vegetable Oil Plant

Diligent Industries Limited, a key player in the business of solvent extraction with the capacity of 250 TPD, have just completed the implementation of a green field Multiple Refinery-Vegetable Oil Plant in its existing premises in the surplus land available, adjacent to the solvent extraction plant.

The cost of this greenfield project is Rs. 150 million out-of which Rs. 110 million has already been spent and the balance will be infused in a phased manner in the ensuing financial year i.e., 2022-23. This green field project is funded out of unsecured loans from the promoters and internal accruals.

All the approvals for commencing the production have already been obtained and commercial production is expected to commence soon. In Phase 1: Refined Bleached Deodorised palm olein process will be commissioned and this has the capacity of 120 ton per day (TPD).

Initially, the company can process the following products:

1. Palm Oil
2. Super Olein
3. Soft Stearin

Shares of DILIGENT INDUSTRIES LTD. was last trading in BSE at Rs. 77.40 as compared to the previous close of Rs. 73.75. The total number of shares traded during the day was 9850 in over 81 trades.

The stock hit an intraday high of Rs. 77.40 and intraday low of 76.00. The net turnover during the day was Rs. 762344.00.

Source : Equity Bulls

Keywords

DILIGENTINDUSTRIES INE650C01028 EdibleOils SolventExtraction NewCapacity GreenField VegetableOilPlant