OTHER GROUP COMPANIES
market

Vardhman Textiles to enhance spinning capacity with an investment of Rs1400cr

The capacity addition is proposed to bring better business synergies, competitive advantage and to meet increased demand.

October 29, 2021 10:28 IST | India Infoline News Service
Vardhman Textiles Ltd has informed that the Board of Directors on October 27, 2021 has approved to enhance the existing Spinning capacity of the Company.

As per regulatory filing, there is existing capacity of 12 lakh equivalent spindles (approx.) (including under implementation) which is running at capacity utilization of 95% (approx.)

Further, the company has proposed capacity addition of 1.65 lakh equivalent spindles in 2-3 years of period. The investment required for expansion is Rs1400cr (approx.). The funding will be raised through internal accruals and debt.

The capacity addition is proposed to bring better business synergies, competitive advantage and to meet increased demand, the company added.

At around 10:27 AM, Vardhman Textiles was trading at Rs1,965.05 apiece down by Rs5.5 or 0.28% on Sensex.

OPEN A DEMAT ACCOUNT & Get
FREE Benefits Worth 5,000

FEATURED ARTICLE

BLOGS

Open Demat Account

  • 0

    Per Order for ETF & Mutual Funds Brokerage

  • 20

    Per Order for Delivery, Intraday, F&O, Currency & Commodity