Ester Industries approves capital expenditure of Rs80cr for capacity expansion of speciality polymer biz

The investment of Rs80cr will be funded through a mix of internal accruals and debt.

Aug 11, 2021 01:08 IST India Infoline News Service

Ester Industries Ltd has informed that on August 09, 2021, the Board of Directors has approved Capital expenditure of Rs80cr for capacity expansion of certain grades of Speciality Polymer business.

The existing capacity of these products is 6000 MTPA and the capacity utilization is more than 80%.

The company proposes capacity addition of 6000 MTPA for these products and  the period within which the proposed capacity is to be added is 24 months.

The investment of Rs80cr will be funded through a mix of internal accruals and debt.

At around 1:30 PM, Ester Industries was trading at Rs144.55 apiece down by Rs5.85 or 3.89% on Sensex.

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