Board approves investments of about Rs 75.8 cr in JVs and subsidiary

Major Capex Above 10pct NetworthCapex & Operations View source PDF

SOMANYCERA · price

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AI summary

Somany Ceramics board approved three investments totaling Rs 75.80 crore: Rs 58.80 crore for up to 49% stake in Siravit Ceramics to set up about 9 million sq mtrs per year Glazed Vitrified Tiles capacity in southern India; Rs 2 crore for up to 50% in Nepal-based V.S. Industries for construction chemicals manufacturing; and Rs 15 crore additional in subsidiary Sudha Somany Ceramics for plant modernization and upgradation. All are cash deals. First two expected within 90 to 120 days, subject to regulatory approvals for the Nepal deal.

Likely market impact

Growth push via southern India capacity expansion, Nepal market entry, and subsidiary upgrade. Total Rs 75.8 cr cash outflow ahead.