Kesar Enterprises Limited announced that with reference to disclosure dated 12.11.2021 filed by the Company with Stock Exchange, whereby the Company had informed that the Board of Directors at their meeting held on 12.11.2021, considered and approved a proposal for expansion of the Company's Distillery capacity to 80KLPD Multi Pressure Distillation plant from existing capacity of 45KLPD as well as modernisation of the plant. Vide the said disclosure, the Company had also informed that the proposed expansion of capacity and modernisation was essential and necessary for efficient functioning of the Company's Distillery Division, and also for its long-term survival and that the proposed capacity expansion and modernisation would also help the Company tap better, the opportunity arising out of the Government's encouragement to produce Ethanol for the purpose of blending with Petroleum up to 10%, which is likely to be increased up to 20% in near future. In the above background, the company would wish to inform further that the Company has started making progress on the above-mentioned proposed expansion and modernisation, which may take another 6-7 months approximately to complete.

The Board of Directors, at their meeting held on 09.02.2022, also took note of progress made in this regard.