Rajapalayam Mills to shift majority of machines to parent unit

28 May 2019 Evaluate

Rajapalayam Mills’ board has decided to shift majority of the machines installed at Andhra Pradesh (AP) Unit to its parent unit at Rajapalayam, Tamil Nadu for better control over operation and costs. After shifting the majority of the machineries, the company will initiate the process of selling the residual machines, land & building of AP Unit.

Total revenue generated by the Unit at Andhra Pradesh for the year ended March 31, 2019 was Rs 38,43 crore, which constitutes 9% of the total revenue of the company. There will not be any reduction of revenue/profits of the company since majority of the machineries are being shifted to parent unit at Rajapalayam. The Board of Directors of the company at their meeting held on May 28, 2019, has decided for the same.

Rajapalayam Mills is engaged in the manufacture and sale of yarns.

Rajapalayam Mills Share Price

1116.90 64.80 (6.16%)
23-Dec-2024 10:55 View Price Chart
Peers
Company Name CMP
Trident 33.88
Filatex India 63.11
Nahar Spinning Mills 289.00
Nitin Spinners 464.55
Sutlej Textiles&Inds 69.10
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.