Laxmi Cotspin Limited has informed the Exchange regarding 'temporary shutdown the open-end yarn manufacturing division of the company'.
LAXMICOT · price
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Laxmi Cotspin Limited has temporarily shut down its open-end yarn manufacturing division with effect from May 5, 2025, citing sluggish market sentiment. The division has a capacity of 1,824 rotors, and the company has also reduced its power load from 2,048 KVA to 1,350 KVA. The company has clarified that this shutdown will not have any material or adverse effect on its overall operations. The decision was taken at a board meeting held the same day.
The shutdown is described as temporary and not materially adverse, suggesting limited impact on the stock. However, it signals weak demand in the yarn market and could affect short-term revenue from this division.