At meeting held on 11 November 2021
The Board of Balkrishna Industries at its meeting held on 11 November 2021 took the following decision:The company's new plant at Waluj, Aurangabad is already functional from middle of September, 2021.
The original plan was to shut down the old plant at Waluj after the new plant becomes operational. Considering the current demand scenario and the strong outlook, the Board of Directors have decided to continue operations of the old plant after making suitable capex plant.
In order to achieve this, a capex of Rs. 350 crore will be required to add advanced machineries, replacement of certain old machines, upgradation of certain systems and some civil work on the old factory building.
The advantage of this capex will be to get the much-needed capacity enhancement in a short period of time. The old Waluj Plant post this capex will be able to produce 25,000 MT p.a. This capex will be incurred over a period of next 6 - 9 months and the enhanced capacity be available from Q3 of FY22-23.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
