Manorama Industries Limited to expand capacity with new investments

The Board of Directors of Manorama Industries Limited at their meeting held today i.e. on Monday, June 14, 2021, has approved the new investments in setting up new capacity of Fractionation and Refinery process by 25,000 MT per annum each along with supporting infrastructure with the total estimated capex of Rs. 65 Cr.

The Board has also approved the acquisition of land around its factory at Birkoni for expansion & utilisation of business purposes.

Total capacity after the new investments in Fractionation and Refinery will be 40,000 MT per annum each.

The new capacity will be added within a period of one year from the commencement. The above capex shall be met out of internal accruals and by raising the required funds through Debt/Equity, as and when required.

The Board has deliberated the requirement and expansion of raw material supply chain in West African countries of Burkina Faso and Benin and accorded the permission for set up of entities / offices there, as and when required.

Shares of Manorama Industries Ltd was last trading in BSE at Rs.1081.85 as compared to the previous close of Rs. 1020.65. The total number of shares traded during the day was 14100 in over 70 trades.

The stock hit an intraday high of Rs. 1090 and intraday low of 990.05. The net turnover during the day was Rs. 14821657.

Source : Equity Bulls

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