CONSEQUENT TO GENERAL RECESSION IN TEXTILE INDUSTRY AND SHARP FALL IN CONFIRMED ORDERS FOR THE YARN TWISTING MACHINES MANUFACTURED BY THE COMPANY, THE MANAGEMENT HAS DECIDED TO CUT MANUFACTURING ....
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Veejay Lakshmi Engineering Works has decided to cut production in its Engineering Division, stopping manufacturing one day per week starting May 10, 2025, until market conditions improve. The move is driven by a general recession in the textile industry and a sharp fall in confirmed orders for the company's yarn twisting machines. The company says the step is aimed at saving costs, while existing confirmed orders and new orders received will still be delivered as per contract terms.
This signals weak demand and a slowdown in the textile machinery segment, which may hurt revenue and margins in the near term. Existing order commitments remain intact, so the impact is operational rather than a loss of business.