The Board of Directors of Vardhman Textiles in its meeting has revised one of the expansion plan of its spinning capacity by installation of 6,624 rotors instead of 5,520 rotors approved earlier.

Thus, the total addition will be 56,744 equivalent spindles instead of 50,000 equivalent spindles.

Further, the Board has also approved to set-up biomass based boiler projects, as an initiative taken by the company towards its ESG responsibilities, as well to cater to requirements of its customers.

It will be financed through internal accruals/ debt and is expected to be completed within next two years.

These projects will have additional capital outlay of about Rs 500 crore. Accordingly, the total capex of the company will stand enhanced to approx. Rs 2,500 crore instead of Rs 2,000 crore.