Universal Cables Ltd approves capex

The Board of Directors of Universal Cables Ltd has approved additional capital expenditure for augmenting the production capacity of XLPE Insulated Medium Voltage Power Cables through debottlenecking at the Company's manufacturing facility at Satna, Madhya Pradesh.

The existing capacity of XLPE Insulated Medium Voltage ("MV") Power Cables of all types and voltage grades is around 6000 KMs per annum which is running at optimal capacity utilization.

Post debottlenecking, the production capacity shall stand increased by approx. 1500 KMs per annum.

The envisaged enhanced capacity is likely to be fully operational by March-2025.

The additional capital expenditure is estimated to be approximately Rs. 20 (Twenty) Crores which would be raised through Secured / Unsecured Loan(s) and internal accruals.

The proposed debottlenecking of production capacity is planned for augmenting the volume of MV Power Cables with minimal additional fixed capital investment in order to meet anticipated growth in demand with shorter delivery schedule.

Shares of Universal Cables Limited was last trading in BSE at Rs. 420.20 as compared to the previous close of Rs. 412.80. The total number of shares traded during the day was 386 in over 121 trades.

The stock hit an intraday high of Rs. 426.95 and intraday low of 419.00. The net turnover during the day was Rs. 162547.00.

Source : Equity Bulls

Keywords

UniversalCables INE279A01012 Capex