Gains of 8% on the purchase of a new production site for Greenlam Industries




New Delhi: Shares of Greenlam Industries NSE 1.96 percent increased by more than 8% on Thursday after the business paid Rs 36 crore to purchase a laminate manufacturing facility from Gujarat-based Bloom Dekor.

Greenlam presently has four laminate manufacturing sites in India, one each in the states of Rajasthan's Behror, Himachal Pradesh's Nalagarh, and Andhra Pradesh's Naidupeta, as well as the recently purchased unit in Gujarat's Prantij.

The Gujarat facility was acquired, increasing the total production capacity of Greenlam laminates to 24.52 million sheets.

By penetrating mass market sectors and extending into semi-urban and rural locations, the Gujarat plant will enable Greenlam to increase the market scope of its goods. Given that the facility is located in Gujarat, which houses raw materials and is close to ports, it has a demographic advantage because logistics are less expensive and take less time there.

The installed capacity of the Gujarat laminate factory is 3.4 million sheets annually. The plant will continue to receive upgrades and have its capacity increased by Greenlam. With this modification, the current plant's yearly production of laminate sheets will increase from 3.4 million to 5.4 million.

The stock was trading at Rs 332.9 at 11:30 a.m., 4.36 percent higher than its previous closing of Rs 319.

Greenlam Industries, a smallcap business in the building materials industry with a market cap of Rs 3,968.62 crore, was created in 2013.


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