Technocraft Industries India Ltd discontinues production of Milange Yarn

Technocraft Industries India Ltd has, on November 16, 2023, decided to discontinue the production of Milange Yarn at its Milange Yarn Unit located at Murbad, District Thane, Maharashtra due to adverse market conditions and losses. Milange Yarn Unit - Murbad is having about 30,000 spindles to manufacture Milange Yarn.

During the previous financial year 2022-23 revenue from this Milange Yarn Unit (Murbad) was Rs. 103.81 crores, against which Total Revenue of the Company on standalone basis was Rs. 1825.09 Crores, which in percentage terms is 5.69% of Total Revenue.

Under the "Yarn Division" of the Company, we also have Cotton Yarn Spinning Unit at Amaravati, Maharashtra having about 31,000 spindles, which will be in operation as usual.

Shares of Technocraft Industries (India) Limited was last trading in BSE at Rs. 2005.90 as compared to the previous close of Rs. 2057.35. The total number of shares traded during the day was 1296 in over 397 trades.

The stock hit an intraday high of Rs. 2073.10 and intraday low of 1990.00. The net turnover during the day was Rs. 2636464.00.

Source : Equity Bulls

Keywords

TechnocraftIndustriesIndia INE545H01011 MilangeYarn Production Discontinued