Hot Pursuit     08-Jan-24
BEPL issues LoA to Toyo Engineering India for project expansion
Bhansali Engineering Polymers (BEPL) informed that it has issued a letter of award (LoA) to Toyo Engineering India for front-end engineering design and capex cost estimation for the brownfield ABS expansion project.
The project will enhance overall ABS production capacity from 75,000 TPA to 145,000 TPA of company's existing plants at Abu Road (Rajasthan) and Satnoor (Madhya Pradesh).

Bhansali Engineering Polymers is the the lowest cost producer of Acrylonitrile Butadiene Styrene (ABS) in India. ABS is a "Highly Specialized Engineering Thermoplastics". The company's customers include leading companies dealing in automobiles, home appliances, electronics, health care & kitchenware.

The company's consolidated net profit increased 17% to Rs 48.22 crore in Q2 FY24 from Rs 41.23 crore in Q2 FY23. However, revenue from operations declined 12.3% YoY to Rs 314.24 crore in Q2 FY24.

The scrip fell 1.11% to currently trade at Rs 110.90 on the BSE.

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