The impact of demonetisation will be felt in the third quarter of this fiscal as tertiary sales have come down by 30-40 percent despite primary sales not wavering much, says Shreevar Kheruka, MD of Borosil Glass.
Borosil MD Shreevar Kheruka said: "Our investment will help Klasspack to ramp up facilities and production to give our current pharmaceutical customers a high quality choice for sourcing their pharmaceutical packaging needs."
Borosil paid for the aquisition by internal accruals, with Kheruka adding that the company does not have any debt in its balance sheet.
Gujarat Borosil has reported better numbers in the fourth quarter of FY16 due to increase in demand for solar glass backed by government initiatives for increased production of solar energy, says says Managing Director, Shreevar Kheruka,