Laxmi Organic Industries Limited approves capex of Rs. 710 crores

The Board of Directors of Laxmi Organic Industries Limited, at the Special Strategy Meet held on 29th and 30th July, 2023, have approved a capital expenditure of ₹ 710 crores for setting up a new manufacturing site at Dahej, Gujrat.

This is a new manufacturing facility of the Company at Dahej, Gujarat which will have capability to produce multi products. Product portfolio of the first phase will be:

- Specialties - Diketene and Ketene derivatives
- Essentials - Esters, Anhydrides and Aldehydes derivatives

The Project will be funded through a mix of internal accruals, debt and equity.

The new manufacturing site is expected to come on stream approximately in 3 years.

Shares of Laxmi Organic Industries Limited was last trading in BSE at Rs. 269.60 as compared to the previous close of Rs. 263.60. The total number of shares traded during the day was 192999 in over 4565 trades.

The stock hit an intraday high of Rs. 274.00 and intraday low of 257.30. The net turnover during the day was Rs. 51854514.00.

Source : Equity Bulls

Keywords

LaxmiOrganicIndustries INE576O01020 Capex Expansion NewProject Dahej Gujarat