Radico Khaitan Limited, one of the largest IMFL companies in India (referred to as "Radico Khaitan" or the "Company"), today announced the successful commissioning of the dual feed plant at Rampur, Uttar Pradesh. To cater to the growing requirement of high quality grain based ENA for its premium products, in February 2022, Radico Khaitan had announced the conversion of its 140 KLPD molasses plant into dual feed. This plant will use both molasses and grain as feed stock.
Post conversion, the grain ENA production at Rampur campus will increase from 100 KLPD to ~260 KLPD. This will further strengthen the backward integration of existing operations at Rampur. Going forward, the Rampur campus will be self-sufficient on its captive power requirement using primarily bio-fuels.
The Company also announces the commencement of the bottling operations which marks the successful completion of the first phase of the Sitapur greenfield project.
Commenting on the development, Dr. Lalit Khaitan, Chairman and Managing Director said: "It is a great pleasure to announce that we have successfully commissioned the dual feed plant at Rampur within the committed capex estimate and timelines. It is a testament to the hard work and commitment of our team and the quality of our suppliers. As we continue to make strides on our premiumization journey, the availability of additional grain based ENA will strengthen our value proposition."
Commenting on the development, Mr. Abhishek Khaitan, Managing Director said: "The new dual feed plant will bring further efficiency to our backward integration. It will not only provide long term security of raw material for our Prestige & Above category brands but also support margins in a strong inflationary environment. We are also pleased to commence the bottling operations at the Sitapur plant which is the first phase of our green field project. It positions us strongly to capitalise on the future growth opportunities in the branded business."
Shares of Radico Khaitan Limited was last trading in BSE at Rs. 1041.05 as compared to the previous close of Rs. 1052.75. The total number of shares traded during the day was 5540 in over 1062 trades.
The stock hit an intraday high of Rs. 1054.00 and intraday low of 1025.90. The net turnover during the day was Rs. 5761856.00.