Board of T T Ltd. clear Growth Plan for F.Y. 2024-25

The Board of Directors of T.T. Limited on their Board Meeting held on 14th August, 2024 have cleared F.Y. 2024-25 Growth Plan to give impetus to implement the growth plan.

Mr. Hardik Jain who has passed B.COM from Melbourne University, Australia recently has joined Company as an Additional Director and young managerial post induction would expedite implementation of growth plan cleared by the Board.

Shri Brij Mohan Sharma, Former Executive Director, Canara Bank after finishing his cooling period has joined Board of T T Limited as an Independent Director. His experience and matured decision making would help T T Limited to grow faster and increase sales volume and speed up new project and initiatives. T T Limited's upcoming new factory in Howrah, West Bengal is progressing very fast and by Deepawali, part of the building will be occupied and balance by end of F.Y. 2024-25.

Simultaneously production and sale of knitwear products will be increased. Allocation of Land under Lucknow PM Mitra Textile Park is now ready to finalise allocation and as soon as allocation is made, possession of land will be taken to expedite taking up of construction work for Company's Textile unit Lucknow, Uttar Pradesh.

Company has also changed its Banker from Punjab National Bank to HDFC Bank which will help in faster decisions and also Company is likely to gain significantly in interest rate .Credit Facilities are significantly better than PNB. Also final execution of disposal of Gajraula unit of the Company has helped Bank loan and debt reduction and consequently significant change / reduction in interest burden.

New Export Sales Staff and Domestic Sales staff has been additionally recruited and are about to join in the month of September, 2024 to help boost Export and Domestic Sale as well.

Single Brand Shops under the guidance of a very well experienced Executive Mr. Rupesh Bhagchandani with many years rich experience has also started functioning on a wider scale to expand Retail Outlet Network of family fashion shops titled "T.T. Bazar" PAN India, Mr. Rupesh Bhagchandani had been handling franchise stores vertical of BATA Company.

Company is making all efforts to boost sales volume in both Domestic and Export for all types of Textile Items particularly Cotton Yarn, Fabric and Garments. T.T. Brand is now registered supplier for CSD Canteens of Indian Army and also State Police Canteens in some States.

Growth plan may make it necessary to make arrangement for exploring public funding possibilities at appropriate time.

Shares of T T Limited was last trading in BSE at Rs. 118.65 as compared to the previous close of Rs. 115.20. The total number of shares traded during the day was 2716 in over 145 trades.

The stock hit an intraday high of Rs. 120.05 and intraday low of 116.90. The net turnover during the day was Rs. 321236.00.

Source : Equity Bulls

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TT INE592B01016 GrowthPlan