Mold-Tek Packaging Ltd to set up new unit at Cheyyar, Tamil Nadu

Mold-Tek Packaging Ltd's new unit situated at Cheyyar, Tamil Nadu, India, will be inaugurated on Saturday, the 6th day of January, 2024, at 02:10 p.m. (IST) in the presence esteemed Director(s) and Official(s) of the Company.

Further, the Commercial Production/ Commercial Operations at the said unit will commence on or before 31st March, 2024.

The total existing capacity is 47,290 MTA and the capacity utilization is at approx. 70%.

The proposed capacity addition of 1,500 MTA will be implemented over the next 6 months. The investment required is Rs. 20 crores which will be funded through a mix of debt (30%) and retained earnings (70%).

The new capacity will cater to the packaging requirement of M/s. Grasim Industries (Aditya Birla Group-Paints Division) and other clients.

Shares of Mold-Tek Packaging Limited was last trading in BSE at Rs. 910.20 as compared to the previous close of Rs. 929.80. The total number of shares traded during the day was 8569 in over 1281 trades.

The stock hit an intraday high of Rs. 937.85 and intraday low of 907.45. The net turnover during the day was Rs. 7881632.00.

Source : Equity Bulls

Keywords

MoldTekPackaging INE893J01029 NewUnit Cheyyar TamilNadu CapacityExpansion