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• Established as the second-largest float glass manufacturer in India, Gold Plus Glass Industry Ltd holds a 22% share of the Indian manufacturing capacity (as of September 30, 2023) according to a CRISIL Report. It is among only two Indian manufacturers boasting fungible production lines capable of generating a comprehensive range of clear and value-added glass within a single facility.
• As of September 30, 2023, three fungible production lines operate across two strategically located facilities. These lines, capable of producing both clear and value-added glass, offer an aggregate capacity of 2,050 tonnes per day (TPD). The facilities reside in Roorkee, Uttarakhand (northern India) with a capacity of 1,250 TPD and Belgaum, Karnataka (southern India) with a current operational capacity of 800 TPD for clear and value-added glass products.
• Over the past few years, the company has focused on increasing its aggregate capacity, rising from 1,250 TPD (March 31, 2021) to 2,050 TPD (September 30, 2023). This expansion aims to capture industry opportunities and boost sales and market share. Phase I of the planned expansion at the Belgaum facility was completed in the first quarter of Fiscal 2024. Additionally, phase II recently concluded, with the solar glass line commencing trial production in December 2023. Commercial production for this line is expected to begin in February 2024. Upon completion (estimated first quarter of Fiscal 2025) of production line 4 at the Belgaum facility, the aggregate capacity will further increase from 2,050 TPD (September 30, 2023) to 3,150 TPD.
• Historically, the Roorkee facility has generated a higher share of revenue from sales in northern and eastern India due to advantageous transportation costs. However, with the completion of phases I and II of the Belgaum expansion, the company has transitioned from a single-location manufacturer to a multi-location player. This transformation enhances the ability to cater to diverse markets within the clear, value-added glass segment, and solar glass, with greater efficiency.
• The company prioritizes sourcing energy from renewable sources such as solar and wind power. To this end, a 6.89 MW rooftop solar installation has been commissioned at the Roorkee facility. Furthermore, a subsidiary has invested in Clean Max Mirage Private Limited ("CleanMax"), which is developing wind and solar power generation facilities in Karnataka. This investment allows the subsidiary to offtake contracted energy for the Belgaum manufacturing operations.
  
• Backward integration is a key strategy for maintaining control over raw material quality and cost optimization. The company has thus entered into a letter of intent with the Government of Uttar Pradesh for silica sand mining in Mau, Uttar Pradesh (dated March 28, 2023). Additionally, silica sand for the Belgaum facility will be sourced from Jimmy Sales and Research, a Promoter Group entity with leased silica mines for 29 years. While mining hasn't yet commenced, future plans anticipate sourcing silica sand primarily from these mines, further strengthening quality and cost control. Additionally, a letter of intent has been signed for a waste heat recovery boiler and steam turbine generator set for the Roorkee manufacturing facility.