The proposed subsidiary would add capacity of 800 cbm per day and is expected to be operational by Q4 FY 2023. The setting up of the new unit would entail an investment of Rs 548 crore.

Considering proximity of principal raw material i.e.agro forestry plantation timber, availability of workers, proximity to Sea Port and National Highways, tax benefits under Section 115BAB of the Income Tax Act, experience of the management in wood panel Industry and growing demand of MDF in India and Overseas, the Company has decided to set-up a unit in Village: Sherpura, Taluka: Savli, District: Vadodara, Gujarat for manufacturing of Medium Density Fibreboard (MDF) under the said wholly owned subsidiary.