Khoobsurat's Goa Brewery Project Achieves Major Milestones
Khoobsurat announces key milestones in its Brewery Project at Cuncolim Industrial Estate, Goa, on July 18, 2024.
by Damodharan N
Updated Jul 18, 2024
Table of Content
Khoobsurat in their release, is pleased to announce significant progress on its Brewery Project at SA-22 & SA-23 Cuncolim Industrial Estate, Goa. Several key milestones have been successfully achieved, highlighting the company's commitment to this venture.
On February 9, 2024, the Goa Industrial Development Corporation (GIDC) issued the registration order for Factory Plot SA-22 & SA-23 in favor of Salcete Brewing Ltd. Shortly after, on February 21, 2024, Khoobsurat executed a Tripartite Lease Deed with GIDC's consent for the exclusive use of the plot for beer manufacturing.
The project received further momentum on April 5, 2024, when the Goa State Pollution Control Board granted consent to establish the brewery. Additionally, on June 10, 2024, the Government of Goa - Water Resources Department approved Khoobsurat's application to drill and register a borewell at the factory premises, measuring 85 meters in depth with a yield of 10,000 liters of water per day.
Khoobsurat has also submitted the application for the Establishment License for the Brewery to the Excise Inspector of Salcete Taluka. After processing at the local excise station, Khoobsurat will pay a non-refundable processing fee of Rs. 20 Lakhs.
Once the payment is made, the file will be forwarded to higher authorities for further action. Subsequently, the company will place the order for brewery equipment after technical consultations with vendors and approval from the Board of Directors.
Upon obtaining the Establishment License, Khoobsurat will be eligible to apply for the Manufacturing License for Beer. These steps are expected to enhance the company's production capacity and positively impact revenue streams in the coming years.
Khoobsurat is committed to advancing this project efficiently and is confident in the positive impact it will have on the company's growth and shareholder value.
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Market Reaction
Following Khoobsurat Ltd's announcement regarding its significant progress on the Brewery Project at 9:57 AM on the BSE, the stock price remained stable at ₹1.47 per share until 1:50 PM.
The price then declined to ₹1.43 before climbing back to ₹1.47. Shareholders' reactions remained stable, and there was no bullish run on the stock until 2:00 PM on the BSE.
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Khoobsurat
Khoobsurat Limited, incorporated on April 17, 1982, in Kolkata, West Bengal, specializes in finance and investments. The company's core business involves investing in both listed and unlisted shares and securities, as well as providing other financial services. It has an authorized capital of ₹1500.00 lakh and a paid-up capital of ₹1328.44 lakh.
Khoobsurat's Goa Brewery Project Achieves Major Milestones - FAQs
1. What recent project has Khoobsurat Ltd announced progress on?
Khoobsurat Ltd announced significant progress on its Brewery Project at SA-22 & SA-23 Cuncolim Industrial Estate, Goa.
2. What key milestones have been achieved in the Brewery Project?
Key milestones include registration of the factory plot, execution of a Tripartite Lease Deed, consent from the Goa State Pollution Control Board, approval for drilling a borewell, and submission of the application for the Establishment License.
3. When was the registration order for the factory plot issued?
The Goa Industrial Development Corporation issued the registration order for the factory plot on February 9, 2024.
4. What is the significance of the Tripartite Lease Deed executed by Khoobsurat?
The Tripartite Lease Deed, executed on February 21, 2024, allows exclusive use of the plot for beer manufacturing.
5. What approval did the Goa State Pollution Control Board grant Khoobsurat?
On April 5, 2024, the Goa State Pollution Control Board granted consent to establish the brewery.
6. What is the capacity of the borewell approved by the Government of Goa?
The borewell has a depth of 85 meters and a yield of 10,000 liters of water per day, approved on June 10, 2024.
7. What fee does Khoobsurat need to pay for the Establishment License processing?
Khoobsurat needs to pay a non-refundable processing fee of Rs. 20 Lakhs.
8. What are Khoobsurat's next steps after obtaining the Establishment License?
After obtaining the Establishment License, Khoobsurat will be eligible to apply for the Manufacturing License for Beer.
9. How did the market react to Khoobsurat's announcement about the Brewery Project?
The stock price remained stable at ₹1.47 per share until 1:50 PM, then declined to ₹1.43 before climbing back to ₹1.47. There was no bullish run on the stock until 2:00 PM on the BSE.
10. What is the expected impact of the Brewery Project on Khoobsurat's business?
The Brewery Project is expected to enhance the company's production capacity and positively impact revenue streams in the coming years.