Virtuoso Optoelectronics touches roof on commencing manufacturing of reciprocatory compressors at Nashik facility
Virtuoso Optoelectronics is locked its upper circuit at Rs. 483.35, up by 23.00 points or 5.00% from its previous closing of Rs. 460.35 on the BSE.
The scrip opened at Rs. 460.35 and has touched a high and low of Rs. 483.35 and Rs. 460.35 respectively. So far 11250 shares were traded on the counter.
The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 690.00 on 09-Jan-2025 and a 52 week low of Rs. 280.00 on 05-Aug-2024.
Last one week high and low of the scrip stood at Rs. 483.35 and Rs. 457.00 respectively. The current market cap of the company is Rs. 1421.36 crore.
The promoters holding in the company stood at 53.69%, while Institutions and Non-Institutions held 2.43% and 43.88% respectively.
Virtuoso Optoelectronics through its wholly owned subsidiary Virtuoso Compressors, has commenced manufacturing of reciprocatory compressors for domestic and commercial refrigeration products at its newly established facility in Nashik, Maharashtra.
The facility has a capacity of 2.8 million compressors per annum, ranging from 3 cc to 15 cc, including both fixed speed and variable speed variants. The project has been executed in technical collaboration with Huayi Compressor (Jingzhou) Company, Jiaxipera Compressor Company, with support from Shenzhen Eateron Company.
This development is aligned with the Government of India’s ‘Make in India’ initiative, contributing towards reducing import dependence in the Indian compressor market (currently around 22 million units annually). The new facility will further enhance the company’s position as a vertically integrated OEM/ODM in consumer appliances, strengthening its end-to-end manufacturing capabilities.
The inauguration of the plant took place in the month of July. This initiative is expected to create additional opportunities for the company in both B2B and B2G segments, positively impacting revenue growth and margins over the long term.
Virtuoso Optoelectronics is engaged in manufacturing of high-volume, large-scale production of consumer & industrial products.
