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The commercial production has commenced on 20 March 2023. The installation of second HPML (Phase I) has involved the capital expenditure of around Rs 170 crore (net of recoverable taxes) and the same has been financed partly by availing the term loan from the bank and partly by internal accruals.
Consequently, the manufacturing capacity of castings at company level has increased from 1,50,000 metric tonne per annum to 1,70,000 metric tonne per annum.
Kirloskar Ferrous Industries is engaged in the business of manufacturing of iron castings. On standalone basis, the company's net profit jumped 26.5% to Rs 103 crore on 15.2% rise in net sales to Rs 1,075.09 crore in Q3 FY23 over Q3 FY22.
The scrip was down 0.52% to Rs 443.60 on the BSE.
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