Archit Organosys Ltd commissions expansion projects at Bhavnagar and Naroda GIDC

Archit Organosys Ltd has announced regarding expansion / diversification, backward and forward integration at its existing factory plot located at Bhavnagar and also at Naroda GIDC, Ahmedabad.

The expansion projects are now fully operational in Bhanvagar unit and stabilized. The Company expects to start yielding favourable results from the same.

Taking note of the various available business opportunities in the Chemical sector in India, in which the company operates, the management has charted out growth plan. The futuristic vision of the management to expand and diversify into a new product ranges will be synergizing its present business and also placing the Company into an accelerated trajectory of the next level of the business growth.

Over a period of next few years, the Company is planning to invest around Rs. 60 Crores in products like (Ethyl Acetate, Butyl Acetate, Propyl Acetate and Acetaldehyde) into the new projects which will also support the Atmanirbhar Bharat Abhiyan. The said new project will be undertaken in the recently incorporated Wholly Owned Subsidiary company namely, Archit Life Science Limited. The new company will have advantages in terms of concessional Income tax rate. The Diversification project in new company is at initial stage and once the same is finalised the required details will be shared. The new projects will accelerate to increase the revenue and profitability for the Company during the forthcoming years which will be further enhancing the stakeholders' value.

The management of the Company is continuously working to attain new heights and growth for the Company to enhance stakeholders' value and also to utmost adhere to corporate governance practices.

Source : Equity Bulls

Keywords

ArchitOrganosys Expansion Diversification Bhavnagar NarodaGIDC