Update with respect to the Labour wages Dispute Settlement for Company''s unit BLP Super Spinners
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PBM Polytex Ltd has reached an out-of-court settlement with two labour unions (Kamgar Sangh PBM and Sangharsh Karmgar Sangh) regarding a wage revision dispute at its BLP Super Spinners unit. The dispute, which had been ongoing for approximately 3 years, was resolved with the consent of the Hon'ble Jabalpur High Court. The total estimated liability under the settlement is approximately Rs. 2.30 Crores. The company had already made provisions of about Rs. 73 Lakhs across FY 2021-22 to FY 2023-24, meaning the net additional liability is around Rs. 1.57 Crores, subject to final computation. The company views this as a positive resolution and expects normal operations at the unit to continue without disruption.
The settlement removes uncertainty around a long-pending labour dispute with a modest additional financial liability of about Rs. 1.57 crore, which is manageable for the company. This is a routine operational matter with no material negative impact expected on the stock.