India Pesticides Ltd acquires Land Measuring 11,461 Sq. Meters for Future Expansion and New Projects

India Pesticides Limited (BSE: 543311; NSE: IPL), One of the fastest growing agro-chemical companies in terms of volume of technical manufacturing ("IPL" or the "Company"), announces that the IPL is on the Path of Capex and growth, the acquisition of land and allotment letter received on August 30th, 2023.

Commenting on the development, Mr. Anand S. Agarwal, Chairman said, "We are pleased to announce a strategic development in the growth trajectory of our company. In line with our commitment to innovation, sustainability, and the pursuit of excellence, we have successfully completed the acquisition of a prime parcel of land measuring 11,461 square meters adjacent to our existing manufacturing plant at Sandila. This acquisition marks a pivotal step in our journey towards expanding our operations and facilitating the implementation of new projects that will further strengthen our competitive position in the market.

This acquisition is a testament to our forward-thinking approach and vision for the future. the need for additional space to accommodate our expanding operations has become evident. The newly acquired land not only offers the required space for expansion but also provides us with the flexibility to execute our ambitious growth plans."

Shares of India Pesticides Ltd was last trading in BSE at Rs. 279.25 as compared to the previous close of Rs. 277.00. The total number of shares traded during the day was 112536 in over 3636 trades.

The stock hit an intraday high of Rs. 282.55 and intraday low of 268.00. The net turnover during the day was Rs. 31033614.00.

Source : Equity Bulls

Keywords

IndiaPesticides Agrochemicals INE0D6701023 Growth Capex