Vardhman Textiles Ltd announces capex

The Board of Directors of Vardhman Textiles Ltd in its meeting held today i.e. 22nd January, 2025, has approved to undertake modernization/upgradation of various machines in the Spinning Units of the Company entailing a Capex of about Rs. 330 crore. This Capex aims to create flexibility and cost optimization.

The Board of Directors of the Company had earlier announced increase in the processed fabric capacity at Vardhman Fabrics, Budhni by about 31 million meter per annum and approval by the Board of setting-up of Biomass based Boiler Projects, this is to inform you that the Board of Directors of the Company in its meeting held today has approved a revision in the Capex involved in these Projects by an additional amount of Rs. 155 crore (approx.) which is mainly on account of addition of some machines in fabric processing and an additional boiler.

The investment required for the above mentioned modernization/upgradation (Rs. 330 crore) and revised Capex (Rs. 155 crore) shall be met through internal accruals/ debt and the same will not impact the Spinning and Fabric capacity of the Company.

Source : Equity Bulls

Keywords

VardhmanTextiles Capex Modernization Upgradation