TOMCL announces completion of phase 1 of expansion as share price recovers

In a notification sent to PXS on 02/05/2024, The Organic Meat Company Lts (TOMCL) has announced an update on its expansion plans The company announced the completion of the first phase of boosting its production capacity by 30%.

Today marks a significant milestone in our company’s growth trajectory as we announce the completion of the first phase of our operational expansion project. This phase of the ongoing expansion at our Gadap processing facility entails a 30% increase in our chilled product capacity, significantly enhancing our overall production capabilities.

The implementation of this phase of expansion is strategically aimed at meeting the growing demand for our products in the GCC (Gulf Cooperation Council) markets and will cater to a wider export base in these markets.

The company is positioning itself to capitalize on emerging opportunities and cater to the evolving needs of our customers in the wider GCC region.

We believe that this expansion not only strengthens our position in existing markets but also opens up avenues for sustained growth and profitability. As we continue to execute our expansion plans, we remain committed to delivering long-term value to our shareholders.

The shares of TOMCL were last trading at Rs 34.29 today.