Royal Cushion Vinyl Products Limited at the board meeting held on May 29, 2024, considered the proposal and gave in-principle approval for undertaking expansion by setting up a manufacturing facility for production of the identified premium products, similar to the existing products manufactured by the Company. The said manufacturing facility is proposed to be set-up in the vacant land available with the Company at Garadhiya, Gujarat, where the existing manufacturing facility is located. The expected cost of project, comprising of construction of building, plant and machinery and working capital is estimated to be approximately INR 500 million.

The cost of the project is proposed to be funded through mix of debt and equity fund raise (preferential issue or other suitable mode of equity fund raise).