Venky's India Ltd to set up new project for manufacturing Veterinary Medicine Products

Venky's (India) Limited (the Company) is setting up a new project for manufacture of Veterinary Medicine Products under its Animal Health Product Segment. The Company has acquired land admeasuring 15030 Sqm at MIDC, Village: Kesurdi, Tal: Khandala, District: Satara, Maharashtra for this purpose. Construction activities will commence in December 2021 and it is expected that the project will be completed by March 2023 and commercial production will commence by June 2023.

This project is to manufacture Veterinary Medicines Powders (600 Tonnes/Annum) and Veterinary Medicines Liquids (300 Kilolitres / Annum) to cater the growing demand from poultry industry.

Total cost of the project is estimated at Rs. 30.00 Crs. which will be funded from internal accruals.

The proposed plant will be the second one from the Company and will be in compliance with the latest FDA regulation and expected to cater export needs also. The Company has already one plant located in Pune (Maharashtra) with a capacity of 600 Tonnes/Annum and the said capacity is utilized to the extent of 70-80%.

Shares of Venky's (India) Limited was last trading in BSE at Rs. 2593.20 as compared to the previous close of Rs. 2591.20. The total number of shares traded during the day was 4898 in over 1313 trades.

The stock hit an intraday high of Rs. 2648.00 and intraday low of 2579.50. The net turnover during the day was Rs. 12782265.00.

Source : Equity Bulls

Keywords

VenkysIndia INE398A01010 ExpansionProject VeterinaryMedicineProducts Satara Maharashtra