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Globus Spirits clarifies on commencement of commercial production at the enhanced capacity in the West Bengal unit

Globus Spirits have replied to the clarification sought by the Exchange regarding the commencement of commercial production at the enhanced capacity.

January 11, 2022 4:03 IST | India Infoline News Service
On Tuesday, Globus Spirits Limited have clarified regarding the commercial production at the enhanced capacity. The company's stock wtinessed upside on the exchanges. 

The company have provided the following explanations:

It mentioned that for Existing capacity utilization, even Prior to expansion, the earlier (actual) capacity of the plant was being operated at full capacity.

With regard to the Investment Requirements, it mentioned that the Board of Directors of the company approved a total investment of Rs 100-125 crores for the expansion under consideration.

It also outlined that the expansion will be financed mainly through a Term Loan of Rs 70 crores, and the balance shall be generated through internal accruals, as per se approval of the Board of Directors.

The company’s ultimate objective is to grow the business in its core areas of operations, and hence will take necessary steps for its ahievement.

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