Lambodhara Textile informs about business updates

Lambodhara Textile has informed that the Company has completed construction of Commercial Complex at the heart of city with a tenantable area of 28,000 sft. appx and the rentals of Rs 1.50 Crore per annum appx is expected to be generated during the financial year 2016-17. Also, the Company has purchased land admeasuring 85,000 sft. appx adjacent to the current Plant location for expansion and the land development is underway. The Company is planning to add a further capacity of 15,000 spindles to the existing capacity of 37,856 spindles with a timeframe of 2 years for implementation of the said expansion. The cost of the project will be Rs 35 Crore appx funded thru Term Loan and internal accruals. On implementation, the incremental turnover will be Rs 35 Crore appx with an EBIDTA at existing level of 16.5% or at improved level.

The above information is a part of company’s filings submitted to BSE.