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By EquityPandit

MARKETS

Greenlam Subsidiary Starts Chipboard Production with Rs 735 Crore Investment; Shares Up 1%

It is expected to generate annual revenue of up to Rs 750 crore at full capacity.

Shares of Greenlam Industries Ltd rose by 1% to touch a day’s high of Rs 588.70 on 24th January after the firm announced yesterday that its wholly owned subsidiary, Greenlam Ltd, has commenced commercial production of chipboard at its manufacturing facility in Naidupeta, Andhra Pradesh, effective today.

Greenlam Industries announced that its wholly owned subsidiary, Greenlam Ltd, has started commercial production of chipboard at its manufacturing facility in Naidupeta, Andhra Pradesh, effective from 23rd January 2025.

The facility has an installed production capacity of 2,92,380 cubic meters per year.

It is expected to generate annual revenue of up to Rs 750 crore at full capacity.

The total capital expenditure for the chipboard project is approximately Rs 735 crore as of the commencement of production.

Currently, the company’s market capitalisation stands at around Rs 7,302 crore.

At 11:22 AM, the shares of Greenlam Industries were trading 0.86% at Rs 572.40 on NSE.

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