News On Projects
Products & Services
Projects Database
Tenders Database
E - Newsletter
EPXonline.com
Project Financing
Contracts & Awards
Energy
Electricity
Mining
Oil & Gas
Infrastructure
Airport
Port
Railway
Road
Freezone
Construction
Manufacturing
Cement
Engineering
Automobile
Plastic
Metal
Textile
Paper & Packaging
Leather
Sugar
Edible Oil
Electrical & Electro
Processing
Chemical
Drugs & Pharma
Fertiliser
I-C-T
Communication
IT
Telecom
Water
Pump Station
Water Treatment
Water Supply
Hospitality
Hotel
Restaurant
Resort
Entertainment
Sports
Multiplex
Theme Park
Food & Beverages
Hospital
Service
Social
Science
Irrigation
Government
Policy
Economic Indicators
Company News
Commerce
Miscellaneous
News Uploaded On : Saturday, August 12, 2017 11:46:00 AM IND Back  |  Latest Projects  |  Latest Tenders
 
 E-mail this to a friend        Printable version       Story Viewed 2183 Times
Visaka Industries setting up plant in Haryana.
Building products and synthetic yarn maker Visaka Industries Ltd. is setting up a plant to manufacture V-Boards at Jhajjar in Haryana.

The investment on the plant, with an initial capacity of 50,000 tonnes, will be ₹100 crore. Announcing that the Bhoomi puja was performed on Sunday, the company said the plant is being set up to meet the demands of growing market.

The facility, which will take the company’s manufacturing capacity for the product to 1.70 lakh tonnes, is expected to commence production by March, 2018. Visaka Industries, which was set up in 1981, commenced manufacture of corrugated cement fibre sheets in 1985 with a plant near Hyderabad.

It diversified into synthetic yarn in 1992 and set up a factory in Nagpur. A leading player in cement sheet production, the company has eight factories across the country.

It forayed into fibre cement boards and panels and set up a factory each in Miryalaguda, Telangana and Daund, Maharashtra.

Senior executives of the company shared information on the new plant in Haryana at a press meet here on Friday to announce the financial results for the quarter ended June.

The net profit was ₹22.95 crore, an increase of over 37% compared to the ₹16.67 crore it has posted in the corresponding quarter of previous fiscal. Total income remained flat at ₹342.30 crore (₹342.88 crore).

“The revenue remained more or less static because of sales slowing down in June on account of the implementation of GST from July 1,” the company said. The levy on cement sheets and V-Next products have been reduced to 18% under the GST. The total indirect taxation on the products previously was 28%. The reduction provides a good opportunity to the company to become more competitive and grow, a release said.

THE HINDU

Post your comments:

Your name: *
E-Mail Id:
E-mail ID will not be published
Comment: *
Maximum 500 Characters
    
Related Stories
Oppo gets green nod for Rs. 2,200-cr mobile manufacturing unit in Noida.
ITC Infotech eyes buyouts in AI, automation, cyber security, IoT space.
Cargill plans a pipeline to transport imported crude edible oil.
Indian Oil evaluates Rs. 20K-cr coke gasification project at Paradip.
Sobha to spend ₹3,000 cr in apartments, villa construction.
Hines to invest ₹150 cr in Tata Housing project.
Xiaomi plans to set up more plants in India to add capacity.
Shapoorji JV eyes tier-II cities for affordable homes.
JSW Steel forms subsidiary to fast-track Rs. 55k-cr projects in Odisha.
ONGC's major project set to take off soon.
RELATED PROJECTS & TENDERS

Projects

... More projects

Tenders

Click here to view Tenders Database
ADVERTISEMENT
MOST POPULAR STORIES NOW
For all enquiries please contact
Tel: 022 - 25961254, 25960909
Mobile: 9821464666/09751178830
Mail: marketing@newsonprojects.com

OUR OTHER PRODUCTS & SERVICES:    Projects Database   |   Project e-Newsletter   |   Tenders Database   |   Commissioned Power Plants   |   Company Index
About Us   |   Contact Us   |   Terms of Use   |   Advertise with Us   |   Privacy Policy   |   Disclaimer   |   Feedback