Bhansali Engineering Polymers said the cost of this expansion has been financed through internal accruals of the company while it continued to maintain its status as a zero debt entit
Bhansali Engineering Polymers share price is locked at 5 percent upper circuit at Rs 201.35 on the BSE following successful ABS capacity expansion.
"ABS capacity expansion plan of the company from 80 KTPA to 100 KTPA at its Abu Road Unit has been successfully implemented within the envisagd cost and time frame i.e. Rs 20 crore and March 31, 2018, respectively," the company said.
The cost of this expansion has been financed through internal accruals of the company while it continued to maintain its status as a zero debt entity, it added.
At 10:35 hours IST, there were pending buy orders of 49,136 shares, with no sellers available on the BSE.
Meanwhile, the company also informed exchanges that a meeting of the board of directors is scheduled to be held on April 13 to consider the standalone & consolidated financial statement/annual accounts of company for FY18, its audited financial results (AFR) alongwith statement of Assets & Liabilities and Audit Report thereto related to quarter and year ended March 2018, recommendation of dividend to members for FY18.
Bhansali Engineering Polymers is one of the two leading petrochemical company in India involved in the manufacturing of ABS & SAN. BEPL is a vertically integrated petrochemical company that manufactures ABS which acts as a raw material for leading companies dealing in automobiles, home appliances, telecommunications, luggage, bus body and various other multifaceted applications.