Liberty Shoes Ltd production activities clawing back to normalcy

Liberty Shoes Ltd has announced that the level of the production activities at Company’s three plants at Haryana has reached at more than 50% of its normal level. The production activities at the Company’s manufacturing facilities situated at Uttranchal, known as Humantech Center IV remained unaffected and has been working uninterruptedly. The Company in fact satisfied with its performance of Uttranchal facilities, during the year has further augmented the production capacities available there.

The Company in order to mitigate the impact of loss of production has adopted proactive steps including outsourcing, appointment of new labour, working on extra shifts and resumption of production through contractual arrangements. The Company has also speed up the project implementation of its three new units coming up in tax free zones which will be operational within this calendar year.

The Company is hopeful that normalcy at the affected plants will be restored in next couple of weeks.

The Company has also assessed the impact of production loss on its financials and observed that the impact on the financials of the Company in the long run is not expected to be significant.

Source : Equity Bulls

Keywords