Announced Wed, 29 Jul · 12:55 IST
Board approves new Rs 250 Cr aluminium plant at Hosur
CRAFTSMAN · price
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AI summary
Craftsman Automation board approved a new aluminium products manufacturing facility called Hosur Unit 3 in Tamil Nadu. Total estimated investment is Rs 250 Crore (Phase I Rs 100 Cr, Phase II Rs 150 Cr), funded mainly via term loans. Expected commissioning in 6-8 months. Existing capacity is at about 85 percent utilisation, with rising demand from auto OEM customers in Southern India driving the expansion. The Hosur location provides proximity to key customers.
Likely market impact
Positive long term: capacity boost to capture OEM demand. Near term, Rs 250 Cr capex via debt may pressure margins and add leverage.