Archit Organosys begins expansion projects at Bhavnagar and Naroda GIDC

The expansion projects are now fully operational in Bhanvagar unit and stabilized.

September 19, 2022 12:41 IST | India Infoline News Service
Archit Organosys Ltd has announced regarding expansion/diversification, backward and forward integration at its existing factory plot situated at Bhavnagar and also at Naroda GIDC, Ahmedabad.

As per the filing, the expansion projects are now fully operational in Bhanvagar unit and stabilized. The Company expects to start yielding favourable results from the same.

"The futuristic vision of the management to expand and diversify into a new product ranges will be synergizing its present business and also placing the Company into an accelerated trajectory of the next level of the business growth", said Archit Organosys in a filing.

Over a period of next few years, the Company is planning to invest around Rs60 crore in products like (Ethyl Acetate, Butyl Acetate, Propyl Acetate and Acetaldehyde) into the new projects which will also support the Atmanirbhar Bharat Abhiyan. The said new project will be undertaken in the recently incorporated Wholly Owned Subsidiary company namely, Archit Life Science Limited.

The new company will have advantages in terms of concessional Income tax rate. The Diversification project in new company is at initial stage and once the same is finalised the required details will be shared. The new projects will accelerate to increase the revenue and profitability for the Company during the forthcoming years which will be further enhancing the stakeholders' value.

The management of the Company is continuously working to attain new heights and growth for the Company to enhance stakeholders' value and also to utmost adhere to corporate governance practices.

At around 12:42 PM, Archit Organosys Ltd is currently trading flat at Rs68.25 per share on the BSE.

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