The Hindu Business Line : Ess Dee Aluminuim to increase capacity

Ess Dee Aluminium Ltd, which recently filed its draft red herring prospectus with SEBI, plans to use the proceeds of the public issue for strengthening existing capacities and foraying into food-based aluminum foil packaging, said Mr Sudip Dutta, Chairman and Managing Director, Ess Dee Aluminium Ltd. Currently, the company provides end-to-end packaging solutions to the pharmaceutical sector.

"The company produces 3,600 tonnes per annum of aluminium foil which will increase to 9,100 tpa this fiscal; the public issue proceeds will help in ramping capacities further to 18,000 tonnes per annum," said Mr Dutta. A new plant is coming up in Daman for the fresh capacity.

The company recently received the approval of the US Food and Drug Administration for all its six plants in the country.

The company has proposed to offer 69,60,000 equity shares to the public, which would account for 25.79 per cent of the fully diluted post-issue paid up capital of the company.

In fiscal 2005-06, the company posted a net profit of Rs 9.78 crore on a net sale of Rs 62.64 crore.

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