Virtuoso Optoelectronics Ltd commissions a new manufacturing facility in Nashik, India

Virtuoso Optoelectronics Ltd (VOEPL), an emerging manufacturer of highvolume, large-scale production of Electronics Manufacturing Services (EMS) and consumer & industrial products, has added a new manufacturing facility at Wadiware in Nashik, Maharashtra, reinforcing its commitment towards its customers. Further, this is also in line with the committed investment by the company for the PLI scheme for white goods and LED lighting, for which VOEPL received approval last year.

In addition to the existing manufacturing facilities that manufacture air conditioners (ACs) and EMS / LED lights for renowned brands, the third manufacturing unit of VOEPL will have in-house capabilities of manufacturing sheet metal components with presses ranging from 63T to 310T. The facility will also have a state-of-the-art powder coating setup. The facility will further increase the ODU manufacturing capacity of the company, which is being done in line with the expectations of its customers and based on the received projections. The capacity of making ODU for room ACs will increase to 240,000 per year. The manufacturing facility will also add a tool room for maintenance and upgradation of tools to ensure quick turnaround to its customer and maximum uptime of the tools.

Mr Sukrit Bharati, MD, VOEPL, said, "We need to meet consumer expectations by upgrading and enchanting our manufacturing capabilities as per their requirement. We received projections with increased demand from our customers and have decided to increase our capacities accordingly. We are also increasing backward integration so that we can be competitive and give better service to our customers. The investment incurred for machinery used in this unit is part of the PLI scheme of white goods that the company has got sanction for."

Shares of Virtuoso Optoelectronics Limited was last trading in BSE at Rs. 139.05 as compared to the previous close of Rs. 124.45. The total number of shares traded during the day was 142000 in over 70 trades.

The stock hit an intraday high of Rs. 141.10 and intraday low of 125.00. The net turnover during the day was Rs. 19210900.00.

Source : Equity Bulls

Keywords

VirtuosoOptoelectronics INE0I0T01010 VOEPL Nashik ConsumerProducts NewManufacturingFacility Wadiware