This multibagger small-cap company announced a capex plan of 130 crore!
The company has given great returns of 45 per cent over the past 1 year and significant returns of 226 per cent over the past 3 years.
Greenlam Industries is involved in the manufacturing of laminates, decorative veneers, and related products.
Greenlam Industry’s subsidiary, namely HG Industries Limited, has successfully initiated a greenfield project for manufacturing plywood and allied products in Tindivanam, Tamil Nadu. The project, involving an estimated investment of Rs 125 crore, has recently commenced commercial production on June 9, 2023.
The manufacturing facility has an installed capacity of 18.9 million square meters per annum, with the potential to generate annual revenue of Rs 400 crores upon reaching full capacity utilization. The total capital expenditure incurred for the project stands at approximately Rs 130 crores until the start of commercial production. The plywood product will be marketed by the company under the brand MikasaPly.
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The company has given great returns of 45 per cent over the past 1 year and significant returns of 226 per cent over the past 3 years. Additionally, the company was able to grow its sales by 15 per cent (CAGR) over the past 3 years and its profit grew by 14 per cent (CAGR) for the same period.
On Friday shares of the company surged by 18.02 per cent and reached its upper circuit of 483.75.
Investors should keep a close eye on this smallcap stock.