Arfin India has set up a new aluminium alloy ingot manufacturing plant at Dhanot in Gandhinagar, Gujarat, which will be operational from Tuesday. The installed annual capacity of the plant stands at 18,000mt. Together with this plant, the company’s total capacity has reached 24,000mt, Arfin announced in its Bombay Stock Exchange filing.
The company works in the aluminium recycling and ferro-alloy manufacturing sector with its product mix including aluminium deox, alloy ingots, drawn wires, wire rods, auto components among others. In the fiscal year 2019-2020, the company sold 24,533mt of products, up from 23,950mt from the prior year. Its export sales increased by 86pc, with plans to grow further in the overseas market according to Arfin’s annual report.
Although the COVID-19 pandemic impacted the performance of the company, it expects to regain the growth momentum soon. Through its new plant, it expects to cater to increased consumer demand.