The Board of Directors of Bhansali Engineering Polymers Limited at its meeting held today, has reviewed the capacity expansion projects.
The Board noted that the steps taken by the Company for improvement in Operational Efficiencies and Process Improvement at both its Plants have resulted in increase in the Overall ABS production based on availability of HRG and SAN from 65,000 TPA to 75,000 TPA (10,000 TPA additional ABS Production) without incurring any Capex, effective from 1st April, 2022. All statutory approvals (viz. Environment Clearance, Consent to Establish, Consent to Operate etc.) from various Government Authorities, pertaining to the aforesaid capacity enhancement have already been received by the Company.
With regards to Enhancing Overall ABS Production capacity to 2,00,000 TPA at Company's existing plants at Abu Road (Rajasthan) & Satnoor (Madhya Pradesh) by December 2024, the pace was slow in Q4 FY22 due to spread of Omicron Virus all over the World. International travel was restricted, especially to Japan wherein further Technological discussion and finalization were to be done.
With relaxation in Covid related restrictions for the International Travellers, the Company's Management shall visit Japan in May 22 for further advancement on the Brownfield Expansion Project.
The slow pace due to Omicron Virus may lead to a delay in project implementation by 3 months and the Company shall endeavour to expedite the completion of Project before March 2025.
Shares of Bhansali Engineering Polymers Limited was last trading in BSE at Rs. 136.60 as compared to the previous close of Rs. 138.90. The total number of shares traded during the day was 81480 in over 1555 trades.
The stock hit an intraday high of Rs. 140.40 and intraday low of 135.85. The net turnover during the day was Rs. 11223806.00.