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PIL Italica rises on plan to start making plastic crates, bins at Silvassa plant

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PIL Italica Lifestyle rose 3.43% to Rs 9.95 after the company said it plans to start manufacturing plastic crates and bins in various sizes and designs at its Silvassa plant.

PIL Italica Lifestyle on Saturday said the production of crates and bins is scheduled to start in the fourth quarter of FY 2021. The company added that it is aggressively expanding its distribution network in Gujarat, Maharashtra and South India.

Shares of PIL Italica has advanced 8.74% in two trading days from its previous closing low of Rs 9.15 on 10 December 2020.

PIL Italica Lifestyle, formerly Peacock Industries Limited, is a producer of plastic molded furniture and other injection molded articles. The Company offers plastic molded furniture, including chairs, trollies and tables.

On a standalone basis, the company's net profit stood rose 105.3% to Rs 1.17 crore on a 22.9% rise in net sales to Rs 12.83 crore in Q2 September 2020 over Q2 September 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, December 14 2020. 14:20 IST