Asian Paints Ltd. has increased the production capacity at its Khandala plant in Maharashtra to 4 lakh kiloliters per annum in order to meet the medium-term capacity requirements.
It has invested Rs 385 crore towards increasing the installed capacity, and the amount has been funded through internal accruals, the paint manufacturer said in its exchange filing on Monday.
The plant at Khandala had an installed production capacity of 3 lakh kiloliters per annum, when it commenced operations in February 2013.
The company informed the stock exchanges after receiving the necessary approval from the Maharashtra Pollution Control Board in Mumbai.
Shares of Asian Paints closed 0.41% lower at Rs 3,085.6 apiece, as compared with a 0.42% decline in the benchmark NSE Nifty 50 on Monday.
