Asian Paints Limited is planning to increase its manufacturing capacity to 2,00,000 KL per annum at its facility in Tamil Nadu. The company did not disclose the investment details.In an announcement to Exchange that the company is proposing to increase its water based paint manufacturing capacity at its plant situated at Sriperumbudur, Tamil Nadu from 1,40,000 KL per annum to 2,00,000 KL per annum, subject to necessary approvals.Further the Company is also proposing to alter its product mix to augment the manufacturing capacity of synthetic resins and emulsions at its manufacturing facilities at Ankleshwar, Gujarat, by around 35000 MT , subject to necessary approvals. The details of the capital expenditure for the aforementioned expansion would be intimated on receipt of necessary approvals from the regulatory authorities, said the company.Ends
Consolidated net profit for the June quarter was up 19% at Rs 553 crore compared with Rs 466 crore in the same quarter last year
Asian Paints, Berger Paints and Kansai Nerolac were up nearly 2% each as compared to 0.32% fall in the Nifty 50.
The stock was up 2% at Rs 928 after the company reported 20% YoY jump in profit at Rs 409 crore in Q4FY16.
The last of a five-part series on firms that withstood the FY16 slowdown looks at how the paint giant leveraged its product portfolio