Indore-based bead-wire maker Rajratan Global Wire Ltd. is planning an expansion of its domestic and overseas capacity at an investment of around Rs3,200mn ($43.03mn) which will increase the current capacity of 100,000mt to 180,000mt.
The company is aiming to achieve this by increasing the capacity of the greenfield plant by an additional 60,000mt and increasing 40,000mt of capacity in its plant in Thailand.
The Pithampur plant has a production capacity of 60,000mt of bead wire and 12,000mt of high carbon steel wires.
The company has invested around Rs2,500mn in the greenfield plant in Chennai targets to complete the project by the end of FY2024.
The expansion of the brownfield plant in Thailand has an investment of Rs700mn, according to Sunil Chordia, founder, and chairman of the company.
Rajratan published a net income of Rs220mn in the June quarter against Rs16.5mn in the prior-year period along with a four-fold hike in revenue to Rs1,823mn from Rs645mn.
($1 = Rs 74.29)