Laxmi Cotspin Limited has informed the Exchange regarding Outcome of Board Meeting held on May 05, 2025.
LAXMICOT · price
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On the reaction day the stock moved 1.0 pts more than Nifty Microcap 250 and 0.8 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Laxmi Cotspin Limited has announced a temporary shutdown of its open-end yarn manufacturing division (capacity of 1,824 rotors), effective May 5, 2025, citing sluggish market sentiment. The company has also reduced its sanctioned power load from 2,048 KVA to 1,350 KVA, effectively cutting electricity consumption by roughly one-third. Management has clarified that this closure will not have any material or adverse effect on the overall operations of the company, implying the remaining business continues to function. The decision was taken at a board meeting held earlier the same day.
The move points to weak demand and pricing pressure in the yarn segment, which could weigh on near-term revenue and profitability. The company's assurance that operations will not be materially affected may soften the negative sentiment among shareholders.