Outcome of the Board Meeting held on 5th March, 2020:
1. Approval for incorporation of a new 100% Subsidiary (Wholly owned Subsidiary) of Ester Industries Limited.
2. Expansion plan of setting up a new BOPET Film Line in India under the above-stated Wholly owned Subsidiary of the Company.
Information required pursuant to the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular CIR/CFD/CMD/4/2015 dated 9th September, 2015 is as stated under –
Existing capacity utilization
Proposed capacity addition
48000 MTPA in Wholly owned Subsidiary
Period within which the proposed capacity is to be added
Rs. 500 Crores
Mode of financing
Mix of internal accruals and debt
· Full utilisation of existing BOPET Film capacity
· Growing demand for BOPET Film in Domestic and Overseas market