Schneider Electric sizzles on expansion plan

8 Sep 2022 , 10:08 AM

To enhance the production capacity, the companys board has approved setting up a manufacturing unit in Kolkata, subject to requisite approvals, as may be required. Existing capacity of the company stands at 80k MV vacuum interrupters with about 90% capacity utilization. The company proposes to add 180k MV vacuum interrupters and MV vacuum circuit breakers assembly lines. The proposed capacity addition will complete by FY 2023-24 to FY 2027-28 with progressive investment. First mature production is expected in 2025. The capacity enhancement will incur an investment of Rs 138 crore over a period of 3 years. The company will finance the expansion through internal accruals and/or borrowings. The expansion is aimed at meeting domestic demand as well as increase export to Schneider Electric global entities to accelerate Make in India for Global, aligned with Atmanirbhar Bharat initiative of the Government of India, the company said in a statement. Schneider Electric Infrastructure is engaged in the business of manufacturing, designing, building and servicing products and systems for electricity network. Schneider Electric Infrastructure reported net profit of Rs 26.53 crore in Q1 June 2022 as against net loss of Rs 16.08 crore in Q1 June 2021. Net sales rose 28.91% to Rs 371.48 crore in Q1 June 2022 over Q1 June 2021. Powered by Capital Market – Live News