News for HG INDUSTRIES LIMITED (HGIND.BO)

The said facility has the potential to generate revenue of Rs 400 crore per annum on full capacity utilization. The total capex incurred for the project stands at Rs 130 crore

Greenlam Industries shares rose 10.72 per cent to hit a high of Rs 446.40 on BSE. The greenfield project was set up with an estimated investment of Rs 125 crore.

Greenlam Industries saw a jump of 11% in its shares in Friday's intraday trade on BSE after it announced that it started commercial production at its new Tamil Nadu plant. The plant has the potential to yield an annual revenue of INR 400 crore at full capacity and has an 18.9 million square meters p.a. capacity. Earlier, Greenlam informed of setting up a manufacturing facility for plywood and other products at Tindivanam in Tamil Nadu with INR 125 crore investment. The shares traded up 6.3% on Friday, while the average target price of the stock is INR 393.

The company had reported a 109.59 percent year-on-year (YoY) increase in net profit at Rs 54.32 crore in the March quarter of the financial year 2023.

Read more about Greenlam Industries surges 7% on stock split, Rs 950-crore capex plan on Business Standard. The company aims to invest Rs 950 crore over a period of 2-3 years, towards setting up of third laminate plant and foray into plywood and particle board business

The expansion will position Greenlam from a decorative surfacing company to a leading integrated wood panel player, the firm said in a statement.

Greenlam Industries, amongst the largest laminate-makers in India, will invest ₹950 crore over a two-to-three year period as it sets up a third laminate plant and forays into plywood and particle boar