KDDL has informed that the Board of Directors of the Company at its meeting held on Monday, 30th May, 2022 has also, considered and approved the following business: Expansion of Dials factory situated at Derabassi, Punjab. The expansion will enhance the capacity of the unit by 0.5 million pcs. per annum, especially to cater for exports to the medium-high watch segment of Swiss Watches. The expansion will involve capex of Rs 16 crores and will be executed in phases over two years period (in FY23 and FY24) and Setting up of a new plant for manufacturing of top quality steel bracelets for watches around Bangalore (Karnataka). The plant will cater exclusively to mid and high end Swiss and European watches market and will involve an capital expenditure of Rs 25 crores to be executed over next two years (in FY 23 and FY 24). The plant is intended to be set with a capacity of 100 k steel bracelets p.a.
The above information is a part of company’s filings submitted to BSE.
