Greenlam Industries jumped 4.67% to Rs 372.80 after the company announced that its recently acquired laminate manufacturing facility in Gujarat had commenced commercial production on 20 August 2022.
On June 22, the company had informed regarding purchase of laminate manufacturing facility situated at Village Oran, TaIuka Prantij, District Sabarkantha, Gujarat.
The said manufacturing facility currently has an installed capacity of 3.4 million laminate sheet per annum. It has potential to generate revenue of Rs 150 crore per annum on full capacity utilization.
"With this the present installed capacity of the Company for laminates has become 19.02 million laminate sheets per annum," Greenlam Industries said in a statement.
It further stated that the upgradation of the said manufacturing facility is under progress and the same is expected to be operationalized by Q4 FY23.
Post upgradation the installed capacity of the said laminate manufacturing facility will become 5.4 million laminate sheets per annum and will have a potential to generate revenue of Rs 250 crore per annum on full capacity utilization.
Greenlam Industries provides high-quality surface solutions that are designed to transform and beautify residential and commercial spaces. Its brands include Decowood, Mikasa, NewMika, Greenlam Clads, Greenlam Sturdo and Greenlam.
The company's consolidated net profit rose 41.65% to Rs 24.69 crore on a 40.01% jump in sales to Rs 470.61 crore in Q1 FY23 over Q1 FY22.
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