The Board of Directors of Bambino Agro Industries Limited in its meeting held on 15th September 2021 has reviewed and decided to discontinue the two smaller lines of production i.e., 600 kg/hr plants at Gurgaon as the plants have been giving quality issues due to aging. This is to further note that non utilization of these plants will not have any impact on volumes / production of the Company because third party manufacturing / conversion contracts are in place to cater to the demand.
In addition, Management proposes to acquire a pasta plant, from Italy with a capacity of 2000 kg/hr for setting-up a manufacturing facility with a total capex around Rs.24.00 cr at Gohana, Sonipat, Haryana.
The existing capacity is 2000 Kg/hr at the pasta plant in Gurgaon whose utilization is at 95%.
The expansion project currently underway is 3000 kg/hr pasta plant at Sonipet, Haryana. Presently commercial production has not commenced and is expected to commence around November 2021.
The 2000 kg/hr pasta plant at Sonipet, Haryana is expected to commence around April 2022.
The capex will be financed through financing from Banks, funding by Promoters and internal accruals.
Shares of Bambino Agro Industries Ltd was last trading in BSE at Rs. 301 as compared to the previous close of Rs. 296. The total number of shares traded during the day was 9280 in over 278 trades.
The stock hit an intraday high of Rs. 305.95 and intraday low of 292.1. The net turnover during the day was Rs. 2800738.