KDDL Ltd approves expansion projects

The Board of Directors of KDDL Limited ("the Company") at its meeting held on Monday, 30th May, 2022 has considered and approved the expansion of Dials factory situated at Derabassi, Punjab. The expansion will enhance the capacity of the unit by 0.5 million pcs. per annum, especially to cater for exports to the medium-high watch segment of Swiss Watches. The expansion will involve capex of Rs. 16 crores and will be executed in phases over two years period (in FY23 and FY24).

The board approved setting up of a new plant for manufacturing of top quality steel bracelets for watches around Bangalore (Karnataka). The plant will cater exclusively to mid and high end Swiss and European watches market and will involve an capital expenditure of Rs. 25 crores to be executed over next two years (in FY 23 and FY 24). The plant is intended to be set with a capacity of 100 k steel bracelets p.a.

Shares of KDDL Limited was last trading in BSE at Rs. 733.00 as compared to the previous close of Rs. 698.25. The total number of shares traded during the day was 787 in over 116 trades.

The stock hit an intraday high of Rs. 733.00 and intraday low of 721.05. The net turnover during the day was Rs. 576346.00.

Source : Equity Bulls

Keywords

KDDL INE291D01011 ExpansionProjects