UCAL Ltd to close Plant 7 at Maraimalai Nagar

UCAL Ltd has decided to close completely the operational activities at its Plant 7 situated at B22, Industrial Estate, Maraimalai Nagar, Chengleput for the reasons mentioned in the table below.

Plant 7 catered to only manufacture and maintenance of Dies for pressure die casting (PDC) for meeting the internal requirements of Plant 1, Plant 6 and Plant IO and does not manufacture any finished goods for sale to any customers. Therefore, the contribution ofturnover from this Plant 7 in terms of amount and percentage during the last financial year 2022-23 to the turnover ofthe Company is NIL.

It is pertinent to mention here that the said unit comprise an insignificant portion of operations ofthe Company as this unit was only supporting the manufacturing activities of other plants of the Company and the said closure does not have any material and adverse effect on operations of the Company.

The closure of activities involving movement or disposal of machineries and other customary procedures to end by the expiry of 60 days from the date of this intimation.

Shares of Ucal Limited was last trading in BSE at Rs. 145.45 as compared to the previous close of Rs. 141.05. The total number of shares traded during the day was 8306 in over 306 trades.

The stock hit an intraday high of Rs. 149.00 and intraday low of 140.85. The net turnover during the day was Rs. 1208714.00.

Source : Equity Bulls

Keywords

UCAL INE139B01016 OperationsClosure Plant7 MaraimalaiNagar Chengleput