The total capex incurred for the project stands at Rs 239 crore approximately till commencement of the commercial production.

Earlier the Greenlam South had set up greenfield project at Naidupeta, Andhra Pradesh, for manufacturing of 3.50 million laminate sheets/boards per annum, with an estimated investment of Rs 225 crore.

Greenlam Industries is engaged in the business of manufacturing laminates, decorative veneers and allied products.

The company's net profit jumped 33.3% to Rs 32.91 crore on 9.5% increase in net sales to Rs 515.24 crore in Q1 FY24 over Q1 FY23.