Company news: Bhansali Engineering

Bhansali Engineering Polymers on Wednesday said the work in respect of establishing a Research and Development Centre at Abu Road was completed on January 15 and the company has filed an application on March 12 for recognition of the R&D centre with the Department of Science and Industrial Research, Government of India. The recognition will enable the company avail benefits under the Income Tax Act, 1961. In another notification, it announced the successful commissioning of the compounding capacity expansion project at its Abu Road plant from the existing 100 KTPA to 137 KTPA within the envisaged cost and timeframe. Further, the compounding capacity expansion project has been funded through internal accruals and the company continues to remain a ‘zero debt entity’, it added. Shares of Bhansali Engineering slipped 3.15 per cent at ₹70.65 on the BSE.