Prism Johnson Ltd commissions capex of approx. Rs. 25 crores

Prism Johnson Ltd has set up a new manufacturing facility for Industrial Products & Natural Resources ('IPNR') products at Dewas, Madhya Pradesh, on existing land available at the Company's tile manufacturing facility, for a capex of approximately INR 25 Crores, funded primarily through internal accruals.

IPNR was set-up in the year 2005 and is a business vertical of the H & R Johnson (India) ('HRJ,) Division of the Company. IPNR leverages its core competence of Research and Development (R&D) to develop and sell a wide range of high quality Industrial Products, which are used in diverse industries such as Ceramic Tiles, Sanitaryware, Glass, Lead-acid Batteries, Plastics, Cement, Paints etc. IPNR has also contributed to several product innovations of the HRJ Division. Besides Dewas, Madhya Pradesh, the Company also has small manufacturing capacities for IPNR products at its tile manufacturing plants at Pen, Maharashtra and Karaikal, Puducherry.

Some of the key IPNR products that will be manufactured at Dewas include ceramic stains, ceramic filter disc, ceramic membrane, antimicrobial compounds etc. The primary rationale for setting up this manufacturing facility is to scale up the operations with respect to the aforesaid products given their growth potential.

Shares of Prism Johnson Limited was last trading in BSE at Rs. 119.90 as compared to the previous close of Rs. 117.95. The total number of shares traded during the day was 25791 in over 667 trades.

The stock hit an intraday high of Rs. 121.00 and intraday low of 117.45. The net turnover during the day was Rs. 3062362.00.

Source : Equity Bulls

Keywords

PrismJohnson INE010A01011 Capex Dewas MadhyaPradesh IPNRProducts