The Board of Directors of the Company at its meeting held today, has considered, subject to requisite approvals, expansion of production capacity of Maris Spinners Ltd. The Existing capacity of plant 1 at Hunsur, Mysore is 28704 spindles and the capacity utilization is at 100%.
The proposed capacity addition of 7488 spindles (26.086%) is expected to be added by July 2022 at an outlay of Rs. 31.70 crores.
The funds would be raised through bank finance of Rs. 20.50 crores and Rs. 11.20 crores through internal accruals.
Shares of MARIS SPINNERS LTD. was last trading in BSE at Rs. 99.70 as compared to the previous close of Rs. 103.85. The total number of shares traded during the day was 23687 in over 293 trades.
The stock hit an intraday high of Rs. 108.70 and intraday low of 97.00. The net turnover during the day was Rs. 2401720.00.