Virtuoso Compressors Pvt Ltd commences manufacturing

Virtuoso Optoelectronics Limited (the "Company"), through its wholly owned subsidiary Virtuoso Compressors Private Limited, has commenced manufacturing of reciprocatory compressors for domestic and commercial refrigeration products at its newly established facility in Nashik, Maharashtra.

Key Highlights:

- The facility has a capacity of 2.8 million compressors per annum, ranging from 3 cc to 15 cc, including both fixed speed and variable speed variants.

- The project has been executed in technical collaboration with Huayi Compressor (Jingzhou) Co. Limited, Jiaxipera Compressor Co. Limited, with support from Shenzhen Eateron Company Limited.

- This development is aligned with the Government of India's 'Make in India' initiative, contributing towards reducing import dependence in the Indian compressor market (currently ~22 million units annually).

- The new facility will further enhance the Company's position as a vertically integrated OEM/ODM in consumer appliances, strengthening our end-to-end manufacturing capabilities.

The inauguration of the plant took place in the month of July, and was honoured by the presence of Dr. Ashish Kumar, Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, as Guest of Honour.

This initiative is expected to create additional opportunities for the Company in both B2B and B2G segments, positively impacting revenue growth and margins over the long term.

Shares of Virtuoso Optoelectronics Limited was last trading in BSE at Rs. 460.35 as compared to the previous close of Rs. 468.65. The total number of shares traded during the day was 9750 in over 36 trades.

The stock hit an intraday high of Rs. 471.00 and intraday low of 460.00. The net turnover during the day was Rs. 4518187.00.

Source : Equity Bulls

Keywords

VirtuosoOptoelectronics INE0I0T01010 VOEPL ConsumerProducts VirtuosoCompressors Manufacturing