Received New Single Largest Order for Type – IV CNG Cascades and Expansion Status
Company has received order from Maharashtra Natural Gas Limited for supply of CNG Cascades made from Type – IV Composite Cylinders, for a total value of INR 134 Crores (approx.) to be supplied within one year period.
In order to meet growing demand for Type – IV Composite Cylinders for CNG Cascades, Management is undertaking capex in a phased manner:
Phase – I (FY 2022-23)
The Company is increasing the manufacturing capacity by 300 cascades (18,000 cylinders) in FY 2023 with a capital outlay of INR 55 Crores.
With the above expansion, the total cascade manufacturing capacity will increase from 180 to 480 cascades (28,800 cylinders) by March 2023.Phase – II (FY 2023-24)
Under Phase-II, Management has already undertaken expansion program to increase the capacity by further 600 cascades (36,000 cylinders) and the same will be completed in Q4 FY 2024 with an outflow of INR 125 Crores. Total cascade manufacturing capacity after completion of Phase-II will be 1,080 cascades (64,800 cylinders) per year from March 2024.
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