NewsCorporate ActionsJD Cables Expands Operations with ₹16.17 Crore Investment in Property and MachineryJD Cables Expands Operations with ₹16.17 Crore Investment in Property and Machinery
JD Cables Limited is expanding operations with a ₹16.17 crore investment. The company is purchasing a 118,288 sq. ft. industrial property in Hooghly District for ₹10.45 crores from Star Battery Limited. Additionally, JD Cables is investing ₹5.72 crores in advanced machinery for its Conductor Division. The expansion aims to increase production capacity, meet growing market demand, and explore new opportunities. The company also submitted a compliance certificate under SEBI regulations, demonstrating commitment to corporate governance.
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JD Cables Limited, a prominent player in the cable manufacturing sector, has announced significant expansion plans that include property acquisition and machinery upgrades. The company's strategic moves aim to bolster its production capabilities and market presence.
Property Acquisition
JD Cables has entered into an Agreement for Sale with Star Battery Limited to purchase a substantial industrial property. The details of the acquisition are as follows:
| Aspect | Details |
|---|---|
| Property Size | Approximately 164.29 Cottah (118,288 Sq. Ft.) |
| Location | Hooghly District |
| Purchase Price | ₹10.45 Crores |
| Features | Existing sheds and building structures |
| Intended Use | Immediate industrial application |
| Conveyance Timeline | Within two months upon full payment |
Machinery Investment
In addition to the property acquisition, JD Cables has made a significant investment in advanced machinery:
| Aspect | Details |
|---|---|
| Order Value | ₹5.72 Crores |
| Purpose | For Conductor Division |
| Installation Location | New facility (acquired property) |
Strategic Implications
Piyush Garodia, Managing Director of JD Cables, highlighted the strategic importance of these investments:
- Expansion of Production: The new facility will provide ample space and infrastructure to increase production capacity.
- Meeting Demand: The company aims to efficiently address the growing market demand for its products.
- Operational Excellence: The investments are expected to enhance operational efficiency and product quality.
- Market Opportunities: JD Cables is positioning itself to strengthen its domestic footprint and explore export market opportunities.
Corporate Governance
In line with regulatory requirements, JD Cables has demonstrated its commitment to transparency and compliance. The company recently submitted a certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the half-year ended September 30. This submission, handled by MUFG Intime India Private Limited, the company's Registrar and Transfer Agent, confirms the proper processing of securities for dematerialization and listing on relevant stock exchanges.
The strategic investments totaling ₹16.17 Crores in property and machinery, coupled with the company's adherence to regulatory standards, signal JD Cables' commitment to growth and corporate governance. These moves are likely to strengthen the company's position in the competitive cable manufacturing industry and potentially create value for its stakeholders.
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