Radico Khaitan Limited, one of the largest IMFL companies in India (referred to as "Radico Khaitan" or the "Company"), today announces the successful commissioning of its 350 KLPD greenfield grain distillery along with a captive power plant of 15 MW at Sitapur, Uttar Pradesh. The entire campus will be self-sufficient for its power requirement primarily using biomass/non-carbon fuels.
In addition to an annual ENA/absolute alcohol production capacity of over 10 Crore liters, the campus also has a bottling capacity of over 15 million cases. The Company has also set up a malt maturation capacity of 10,000 barrels at the Sitapur campus.
Commenting on the development, Dr. Lalit Khaitan, Chairman and Managing Director said: "I am very happy to announce the successful commissioning of our 350 KLPD grain distillery at Sitapur. I would like to congratulate our project team for the commissioning of the plant on committed timelines and within the estimated capex limit. We expect that the plant will fully stabilise within 2-3 weeks' time and shall achieve over 90% efficiency. Full financial benefit of the Sitapur manufacturing facility expected to be realised from Q3 FY24."
Commenting on the development, Mr. Abhishek Khaitan, Managing Director said: "The commissioning of the Sitapur plant not only secures long term ENA supplies but also positions us strongly to capitalise on the future growth opportunities in the branded business with enhanced bottling capacities. The setting up of the malt maturation facility strengthens the pipeline for our Rampur Indian Single Malt. This is a significant milestone development in the history of Radico Khaitan."
Shares of Radico Khaitan Limited was last trading in BSE at Rs. 1218.35 as compared to the previous close of Rs. 1215.15. The total number of shares traded during the day was 5342 in over 613 trades.
The stock hit an intraday high of Rs. 1240.45 and intraday low of 1202.10. The net turnover during the day was Rs. 6565361.00.