The company started commercial production of PPCP Granules by installing new imported washing line and extrusion line which is having annual capacity of 1200 MTPA.
Shares of Gravita India added 3.3 percent in the early trade on Tuesday as company started commercial production at Chittoor plant.
The company started commercial production of PPCP Granules by installing new imported washing line and extrusion line which is having annual capacity of 1200 MTPA.
The production from said plant will cater the needs of injection moulding and non-woven fabric industry globally.
“The company has plans to increase the capacity of said plant to 6000 MTPA by installing two more plastic recycling lines, company said in release.
“This plastic recycling plant is replica of existing plant situated at Phagi, Jaipur which is running successfully and will help the company to increase its topline and bottom-line in coming FY 2018-19.”
“The company has plans to make investment of Rs 5 crore out of which Rs 28 lakh has been invested for procuring and commissioning of above mentioned washing and extrusion line having capacity of 1 200 MTPA from internal accruals of the company,” it added.
At 09:50 hrs Gravita India was quoting at Rs 176.30, up Rs 4.10, or 2.38 percent on the BSE.
Posted by Rakesh Patil