Somany Ceramics to invest in subsidiaries Sudha Somany Ceramics and Somany Piastrelle; stock gains 2%.

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  • Somany Ceramics Limited has decided to make an investment in the share capital of Sudha Somany Ceramics Private Limited (SSCPL), a subsidiary of the company, and/or to grant an inter-corporate loan to SSCPL, in one or more than one tranche with a maximum cap of Rs42cr in aggregate for the said transaction(s).
  • The proposed investment is towards the capacity expansion of 3.6 million square meters per annum of Glaze Vitrified Tiles (GVT) by SSCP.
  • The proposed investment is towards setting up a greenfield project of 3.48 million square meters per annum of Glazed Vitrified Tiles at Dhanot, Gujarat by SPP.
  • The proposed investment is towards setting up a greenfield project of 3.48 million square meters per annum of Glazed Vitrified Tiles at Dhanot, Gujarat by SPPL.
  • The company has also declared an Interim dividend at 120% i.e. Rs2.40 per equity share of Rs2/- each for the financial year 2020-21. The company had fixed March 25, 2021, as the record date for determining the entitlement of equity shareholders to receive the interim dividends.

Source – 

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