Back
Corporate News
Laxmi Organic Industries deployed INR 2,483.34 million for facility expansion and innovation centre
30-Jul-2026, 01:42
India Ratings’ Monitoring Agency report reveals that Laxmi Organic Industries Limited has deployed approximately INR 2,483.34 million of the INR 2,591.21 million raised through a recent placement, as of the quarter ending June 30, 2026. The funds were earmarked for a new Innovation Centre in Mahape, expansion of manufacturing facilities in Dahej, and general corporate purposes. The Innovation Centre project, initially slated for completion in fiscal 2024, was delayed by six months and finished on September 30, 2025, due to limited workspace. The Dahej facility expansion, also originally planned for fiscal 2024, now anticipates completion by June 30, 2026, following a delay attributed to a Provisional Consent Order from the Gujarat Pollution Control Board. Currently, INR 107.87 million remains unutilized, invested in a mutual fund.
India Ratings’ Monitoring Agency report reveals that Laxmi Organic Industries Limited has deployed approximately INR 2,483.34 million of the INR 2,591.21 million raised through a recent placement, as of the quarter ending June 30, 2026. The funds were earmarked for a new Innovation Centre in Mahape, expansion of manufacturing facilities in Dahej, and general corporate purposes. The Innovation Centre project, initially slated for completion in fiscal 2024, was delayed by six months and finished on September 30, 2025, due to limited workspace. The Dahej facility expansion, also originally planned for fiscal 2024, now anticipates completion by June 30, 2026, following a delay attributed to a Provisional Consent Order from the Gujarat Pollution Control Board. Currently, INR 107.87 million remains unutilized, invested in a mutual fund.