Filatex India inches up on getting nod for expansion project for recycling chips
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Filatex India is currently trading at Rs. 48.51, up by 0.26 points or 0.54% from its previous closing of Rs. 48.25 on the BSE.
The scrip opened at Rs. 47.81 and has touched a high and low of Rs. 48.59 and Rs. 47.81 respectively. So far 4541 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 54.60 on 04-Oct-2023 and a 52 week low of Rs. 31.60 on 31-Mar-2023.
Last one week high and low of the scrip stood at Rs. 49.28 and Rs. 45.19 respectively. The current market cap of the company is Rs. 2141.60 crore.
The promoters holding in the company stood at 64.76%, while Institutions and Non-Institutions held 5.98% and 29.26% respectively.
Filatex India’s board has approved the company's expansion project for manufacturing recycling chips with a capacity of 20,000 MTPA from polyester waste, including textile waste in all forms. The process will be based on deploymerization of polyester. The project will be executed by the company or its subsidiary.
The estimated cost of this expansion is projected at/about Rs 150 crore which will be financed from Term Loans, both Rupee and Foreign Currency, as well as Internal Accruals. The production is expected to commence around June 2025. The Board of Directors of the company, in their meeting held on October 30, 2023 has approved the same.
Filatex India is engaged in manufacturing Monofilament Yarns for Zippers, Tooth Brush Bristles, Velcro, Magic Fasteners and Forming Fabrics in India.
