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Greenlam Industries to enter into Plywood and Particle Board business

Existing capacity of Greenlam for laminates and allied products is 15.62 million laminate sheets per annum.

December 13, 2021 3:45 IST | India Infoline News Service
Stock Market Trader, Stock Trader, Trading
Greenlam Industries Ltd has informed that the Board of Directors of Greenlam South Limited ("GSL"), a wholly owned subsidiary of the company on December 13, 2021, has approved the followings:
  • To set up a greenfield project for manufacturing of Particle Board and allied products at Naidupeta, Nellore in Andhra Pradesh.
  • To enhance the capacity of the greenfield laminate project being set-up at Naidupeta, Nellore in Andhra Pradesh from 1.5 million laminate sheets/board per annum to 3.5 million laminate sheets/board per annum.
Existing capacity of Greenlam for laminates and allied products is 15.62 million laminate sheets per annum where exisiting capacity utilization is 114% for the six months ended September 30, 2021. Proposed capacity addition by GSL is 3.5 million laminate sheets per annum (enhanced from 1.5 million laminate sheets per annum announced earlier). 

Investment required for expansion of laminates and allied products is Rs225cr (enhanced from Rs175cr announced earlier) and for particle boards and allied products Rs600cr of investment is required.

Further, the Board of Directors of HG Industries Limited (formerly Himalaya Granites Limited) (HGIL), a subsidiary of Greenlam Industries Limited, at their meeting held on December 13, 2021, has approved to set up a greenfield project for manufacturing of Plywood and allied products at Tindivanam, Tamil Nadu.

On Monday, Greenlam Industries ended at Rs1675.05 per piece lower by 0.73% on the  BSE.

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