Aeroflex Industries Ltd updates on expansion project

Aeroflex Industries Ltd has purchased a land parcel admeasuring 79,061 sq. feet square feet adjoining to its present factory location for a total sum of Rs. 5,11,00,000/- (Rupees Five Crores Eleven Lakhs only). The additional land will be used to expand the capacity.

The Company plans to increase its installed capacity from 11 million meters p.a. to 13.5 million meters p.a. by modernisation and upgradation of machines and importing new machineries and equipments. The company also plans to add automated and robotic assembly line in a phased manner. This addition of capacity is expected to be completed before 31st March 2024, with an investment of approx. Rs 48 Crores which will be funded through internal accruals.

Shares of Aeroflex Industries Limited was last trading in BSE at Rs. 153.70 as compared to the previous close of Rs. 156.60. The total number of shares traded during the day was 130887 in over 2369 trades.

The stock hit an intraday high of Rs. 157.50 and intraday low of 152.85. The net turnover during the day was Rs. 20290149.00.

Source : Equity Bulls

Keywords

AeroflexIndustries INE024001021 IronandSteel ExpansionProject LandAcquisition