Pursuant to regulation 30 of the SEBI(LODR),2015
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Kallam Textiles Limited has entered into a domestic Job Work Agreement with Innovative Textiles Limited. Under this agreement, Kallam Textiles will convert yarn into fabric and receive job work charges in return. The company has stated this will help utilize its unutilized manufacturing capacity and is in the best interest of the company. This follows up on a previous intimation made on 16th January 2024. The agreement is not a related party transaction and involves no share exchange.
This is a routine operational agreement that should help the company generate additional revenue by putting idle manufacturing capacity to work. It is not a major corporate restructuring event and is unlikely to have a significant direct impact on the stock price, though it may modestly improve utilization and earnings going forward.