Business Update22 Jan 2025, 05:49 pm
Vardhman Textiles Approves Rs. 485 Crore Capex for Modernization and Capacity Expansion
AI Summary
Vardhman Textiles Ltd. has approved a Capex of approximately Rs. 330 crore for modernization and upgradation of various machines in its Spinning Units. Additionally, the company has revised the Capex for increasing processed fabric capacity and setting up Biomass-based Boiler Projects by approximately Rs. 155 crore. The total Capex now stands at Rs. 485 crore, which will be met through internal accruals and debt. This investment will not impact the Spinning and Fabric capacity of the company. The decision was made in the Board of Directors meeting held on 22nd January 2025.
Key Highlights
- Vardhman Textiles approves a Capex of approximately Rs. 330 crore for modernization and upgradation of Spinning Units.
- The Capex for increasing processed fabric capacity and setting up Biomass-based Boiler Projects is revised to approximately Rs. 155 crore.
- The total Capex is now approximately Rs. 485 crore.
- The investment will be met through internal accruals and debt.
- The Capex will not impact the Spinning and Fabric capacity of the company.