I believe they should stick to their current business and venture only in related business areas.If at all they want to start something new then the group is cash rich enough to start a separate company. Such foray into un related sector in the comapny implies that management does not have clarity regarding the future. Acquisition led growth,foray into unrelated sectors are signals of mediocre future prospects.
Tube Investments is planning to build a new precision steel tube manufacturing facility in Western India.
This facility will help them expand their capabilities and better serve their customers in different regions. The new facility is intended to produce various types of steel tube products, but the exact manufacturing capacity is not determined yet.
The estimated cost of this project is Rs. 211 Crores, and they plan to fund it mainly through their own earnings (internal accrual).
They anticipate completing this project during the fiscal year 2024-25.
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What is source of Rs 551cr other income in this quarter. It was shown as income from discontinued business but not given details of which business has been discontinued. If anyone can give information regarding this, please let me know.