Hind Rectifiers (NSE:HIRECT, BOM:504036) has begun operations of the backward integration project at the company's Sinnar plant in India from Monday, according to a same-day filing to the Indian bourses.
The plant has been established for manufacturing continuously transposed conductors (CTC), enamelled paper insulated copper conductors (EPICC), and paper insulated copper conductors (PICC).
The new unit will help the company to boost its operational efficiency by streamlining its supply chain, reducing its dependence on external vendors, and ensuring the timely delivery of products.
This will help the company to optimize its costs and improve margins.
The company's shares were up nearly 1% in recent trade.