The Board of Directors of Greenlam Industries Ltd at its meeting held on March 20, 2019 discussed and approved to increase the manufacturing capacity of the Company to manufacture additional 1.6 million laminate sheets per annum. The capital cost of this brownfield expansion would be approximately Rs. 25.00 crores. The expanded capacity is expected to be operationalized within a period of 9 months.
The cost of expansion would be financed through mix of debt and internal accruals.
Shares of Greenlam Industries Ltd was last trading in BSE at Rs.900 as compared to the previous close of Rs. 897.05. The total number of shares traded during the day was 11 in over 5 trades.
The stock hit an intraday high of Rs. 910 and intraday low of 868.05. The net turnover during the day was Rs. 9760.