Gravita India Limited, a leading recycling company having its manufacturing presence around the globe, has expanded the capacity of its existing plant located at Chittoor, Andhra Pradesh by installing new washing line and PPCP Granules extrusion lines which is having annual capacity of 4,800 MTPA. The production from said plant will cater the needs of PP/HDPE Moulding & Fiber Industries globally.
At present company is utilizing full capacity of its existing plastic plant and after the said expansion the capacity of Chittoor plant in plastic segment will be 6,000 MTPA. The company has invested Rs. 171.00 Lacs partly by way of leasing & partly from its internal accruals for the said expansion. Further after the above expansion the total capacity of Chittoor plant in Lead & Plastic segment will be 34,000 MTPA. The Company expects an EBITDA of approx. 200.00 Lacs per annum from the said expansion.
Gravita Group is among well known recycling companies across the globe and installation of this plant will help company to further strengthen its financial position coupled with diversification in plastic recycling and value added products.
Shares of GRAVITA INDIA LTD. was last trading in BSE at Rs.99.8 as compared to the previous close of Rs. 106.6. The total number of shares traded during the day was 34392 in over 460 trades.
The stock hit an intraday high of Rs. 108 and intraday low of 95. The net turnover during the day was Rs. 3458015.