Orbit Exports Limited is undertaking Capital Expenditure of around Rs. 30 crore to increase the capacity of the Plant located at Plot No. 13 to 20, GIDC, Sarigam Industrial Estate, Taluka Umbergoan, District Valsad, Gujrat. This strategic investment aims to enhance the processing capabilities by 50% , thereby allowing us to handle a wider range of fabric qualities and meet diverse market demands. This initiative is part of our ongoing commitment to strengthen operational efficiency, improve product quality, and drive future growth.
The aforementioned investment was presented to the Board during its Meeting held on October 22, 2024. The Board had provided in-principal approval, contingent on a detailed assessment of the machinery from the trusted vendors. The company will now initiate the procurement process of these Machines. The installation and production thereon is expected to get completed during the Q2 of FY 2026.
The funding for this capital investment will be sourced in a 50:50 ratio from internal accruals and a term loan secured from a financial institution. Additionally, this capital expenditure may qualify for subsidies and incentives under the New Gujarat State Textile Policy, providing further financial support to the Project.
Shares of Orbit Exports Limited was last trading in BSE at Rs. 174.40 as compared to the previous close of Rs. 166.05. The total number of shares traded during the day was 1380 in over 121 trades.
The stock hit an intraday high of Rs. 181.90 and intraday low of 169.30. The net turnover during the day was Rs. 244645.00. |
