Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Sahyadri Industries has informed that the Board of Directors of the Company through resolution passed at their meeting held on 22nd July 2021, approved following matters: To set up of new manufacturing Plant at Odisha for Asbestos Corrugated Sheets with a capacity of 1,20,000 MT. The Company will incur capex of INR 95 Crores and the production is expected to commence by Quarter III of FY 2023.The Expenditure will be funded mostly by internal accruals and debt. With this expansion the Company would enter unrepresented markets of Odisha, West Bengal, Bihar and Jharkhand and Reconstitution of committees: On account of appointment of new Woman Independent Director, Board has reconstituted the Audit Committee, Stakeholder Relationship and Grievances Committee, Nomination and Remuneration Committee as details are attached.
The above information is a part of company’s filings submitted to BSE.
