"NOCIL Limited Greenlights Capex for Capacity Expansion"

During its meeting held on March 26, 2024, the Board of Directors of NOCIL Limited has given the green light for a capital expenditure (capex) of up to Rs. 250 crore. This investment is aimed at enhancing capacity for rubber chemicals at the company's facility in Dahej.

Currently, the existing capacity at the Dahej plant stands at 115,000 metric tonnes per annum (MTA) for rubber chemicals, operating at approximately 65% capacity utilization. The proposed capacity addition would represent a 20% increase over the existing capacity.

The approved capex will primarily be funded through internal accruals, reflecting the company's confidence in its financial position and growth prospects. This strategic investment underscores NOCIL Limited's commitment to meeting the growing demand for rubber chemicals and strengthening its market position in the industry.

EQUITYBULLS