BirlaNu's Growth Spurt: New Fibre Cement Plant Approved! 🚀

Hey investors! Big news from BirlaNu Limited! 🏗️ The company’s Board of Directors just gave the green light to a major expansion plan, setting up a brand-new Fibre Cement Board plant near Krishnapatnam port in Nellore district, Andhra Pradesh.

This isn’t just any expansion; it’s a strategic greenfield project! BirlaNu is looking to add a whopping 72,000 metric tons of Fibre Cement Boards per annum in its first phase. Talk about boosting production! 📈

The company is earmarking an estimated ₹127 crore for this venture, covering everything from plant setup to other essential infrastructure and land acquisition for future growth. They plan to get this new capacity up and running within a tentative period of eighteen months, funded through a mix of internal accruals and borrowings. Smart move! 💰

Why this big push? BirlaNu’s goal is clear: strategically scale operations, expand their premium product lines, and gain a competitive edge by enhancing market accessibility. It’s all about future growth and reaching more customers. 🎯

At the time of this exciting announcement, BirlaNu’s stock was trading at ₹2083.8, showing a slight dip of 6.2%. Keep an eye on this one as they build out their future! 👀

source: Corporate Announcement

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