Date: 5th October 2026
Board Meeting Outcomes
The Board of Directors at its meeting held on 5th October 2026 approved the following:
- Setting up a Machining Division for machining of the Company's castings involving an investment of approximately ₹75.00 crore
- The project is proposed to be funded through a combination of internal accruals and borrowings
Project Details
Nature of the Project: Setting up of a Machining Division
Location of the Project: Gudur, Andhra Pradesh
Objective/Purpose of the Project: To establish in-house machining capabilities for the Company's castings and undertake machining and assembly of cast components, thereby enhancing value addition and strengthening the Company's manufacturing capabilities.
Estimated Investment & Funding: Approximately ₹75 crore, funded through a combination of internal accruals and borrowings.
Impact on the Operation of the Company: The project will enable the Company to expand its value-added product portfolio and provide integrated casting, machining and assembly solutions to its customers.
Other Material Information: The project is being undertaken as part of the Company's strategy to increase value addition to its castings and strengthen its machining capabilities.