Gravita India share price touched a 52-week high of Rs 207.45, rising more than 13 percent intraday on August 16 after the company expanded its existing capacity in its Chittoor unit.
The existing capacity of the said unit has been increased by 10,200 MTPA and as of date, the total capacity of this unit for lead recycling is 38,200 MTPA, the company said in the release.
The investment in the said capacity expansion is approximately Rs 1 crore which is invested from internal accruals of the company and all the equipment's are designed and developed in the company's in house project division by using its state-of-art technology, company added.
The company is expecting revenue of approximately Rs 150 crore in a year from this additional capacity.
The company has contracts to collect their PAN India scrap in a cost-effective manner and by exporting the finished goods using the nearest Chennai Port thus saving the logistic cost.
This plant will help the company to further strengthen its presence in southern market and exports in South East Asian Markets.
At 13:14 hrs, Gravita India was quoting at Rs 211, up Rs 24.95, or 13.41 percent on the BSE.