Stock Market Today: Penny stock Exxaro Tiles is to be in focus on Wednesday after a CAPEX expansion with installation of a solar power project and a cost-saving move
Exxaro Tiles announced that it is targeting approximately ₹5.67 crore in annual energy cost savings. The company also announces the installation of a 5 MW DC solar power project.
Penny stock Exxaro Tiles—CAPEX details
Exxaro Tiles announced the installation of a solar power project, which is to be set up on leased land for 25 years and 4 months and is dedicated to captive consumption for the company’s manufacturing unit at Talod, Gujarat.
The said plant currently consumes around 21 million electricity units annually, as per Exxaro Tiles.
“The solar project is a major step in aligning our business operations with global sustainability goals. It not only strengthens our cost-efficiency but also demonstrates our commitment to clean energy and environmental responsibility,” said Mukesh Kumar B. Patel, Managing Director, Exxaro Tiles Limited, in a statement.
Exxaro Tiles operates two production facilities that are situated in Talod (Sabarkantha District, Gujarat) and Padra (Vadodara District, Gujarat).
The total installed capacity of these plants is 13,200,000 square meters annually. The facilities have robotic automation, cutting-edge machinery, and eco-friendly production techniques.
Exxaro Tiles—Cost saving
With the expansions, the company anticipates saving about ₹5.67 crore annually, which translates to a 30% decrease in energy expenses at the facility as solar energy will now be supplementing operations.
The initiative reinforces Exxaro’s commitment to sustainability, operational efficiency, and responsible manufacturing, said the company in its release
About Exxaro Tiles
Exxaro Tiles Limited is a well-known brand in the Indian ceramic and vitrified tile sector, having been founded in 2008 and having its headquarters in Ahmedabad, Gujarat. Double Charge Vitrified Tiles, Glazed Vitrified Tiles (GVT), Polished Glazed Vitrified Tiles (PGVT), Wall Tiles and Ceramic Products, and Big Format Slab Tiles are among the company’s specialties.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
