GMM Pfaudler commences manufacturing operations at its facility at Vatva, Ahmedabad

GMM Pfaudler Ltd (GMMP) has announced that it has commenced manufacturing operations at its facility at Vatva near Ahmedabad on May 24, 2021. GMMP had acquired the assets [factory land, building, plant and machinery, office equipment, computers, furniture and fixtures, vehicles and capital work in progress] owned by HDO Technologies Limited (in Liquidation) through an e-auction in March 2021.

The new facility, which signals GMMP's long-term commitment towards meeting the demands of our customers, will immediately enhance the company's capacity in Heavy Engineering while freeing up capacity in Karamsad to expand our Glass Lining business. The state-of-the-art facility in Vatva, spread over 11.9 acres with seven manufacturing bays (built-up area of 23,617 square meters) is equipped to manufacture a wide range of Heavy Engineering equipment with a crane lifting capacity of 200 metric tonnes, deep-hole drilling (up to 1 meter) capabilities, plate rolling capabilities up to 110 millimeters, strip cladding capabilities, orbital welding capabilities, a 308.6 square meters clean room for fabrication of high alloy materials, vertical turret lathes and other machine tools.

Commenting on the occasion, Mr. Tarak Patel, Managing Director - GMM Pfaudler, said: "We are extremely happy to have commenced manufacturing operations within such a short period of time. Over the last few months we have seen significant improvement in order intake and the quick start-up of this facility will go a long way in growing our Heavy Engineering business."

Shares of GMM PFAUDLER LTD. was last trading in BSE at Rs.5311.85 as compared to the previous close of Rs. 5087. The total number of shares traded during the day was 22721 in over 4668 trades.

The stock hit an intraday high of Rs. 5435 and intraday low of 5117.15. The net turnover during the day was Rs. 120959536.

Source : Equity Bulls

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