Update on purchase of embroidery machinery worth USD 59,000
Price
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Vashishtha Luxury Fashion has bought a KSA SINSIM-906+106 Multihead Flat Embroidery Machine from Zhejiang Xinsheng Technology in China for USD 59,000. The company says the purchase is part of its capital expenditure programme to expand embroidery capacity, improve operational efficiency and meet rising customer demand. The machine has been added to its fixed assets. The acquisition was made in the ordinary course of business for expansion and modernization of manufacturing operations.
Small capex addition to boost embroidery capacity; limited immediate impact on financials or stock price given the modest size of the spend.