This has reference to our earlier intimation dated December 13, 2021, pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, inter alia, regarding setting-up a greenfield project for manufacturing of Plywood and Allied products at Tindivanam, Tamil Nadu by a subsidiary of the Company viz. HG Industries Limited, with an estimated investment of Rs. 125 Crore. We are now pleased to inform you that the said manufacturing facility having installed capacity of 18.9 million square meter per annum has commenced commercial production w.e.f. June 09, 2023, which has a potential to generate revenue of Rs. 400 Crores per annum on full capacity utilization. The total capex incurred for the project stands at Rs. 130 Crores approx till commencement of the commercial production.