NEW DELHI, Sept 29, 2021 /PRNewswire/ — Elaborating on the major announcement of migration from NSE Emerge to the Main Board of NSE, Lagnam Spintex said that the Company has received approval from the National Stock Exchange of India Limited on Tuesday, 28th September 2021 for the migration of 17669000 equity shares from the SME Emerge platform to the Capital Market Segment (Main Board) of National Stock Exchange of India Limited w.e.f. September 30, 2021.
Commenting on the key announcement, Mr. Anand Mangal, Promoter and Managing Director of Lagnam Spintex Ltd., said, “It is really a proud moment for us as the company known for its quality and commitment is migrating from NSE Emerge to Main Board of NSE. It is a significant milestone achieved by us as this will boost liquidity to all investors.”
Recently, the Lagnam Spintex reported resilient financial results for FY 2022, where the standalone PAT increased to Rs 6.11 crores against a loss of Rs.7.41 crores during the same period of last year, resulting in 182% growth. The sales turnover of the company stood at Rs. 74.72 crores during the Q1 of FY 22 against Rs. 19.64 crores during Q1 of FY 21.
Lagnam Spintex has been contributing actively to India’s economic growth story. Advance tax paid for April-September 2021-22 is Rs 165 lakhs, compare to Rs 95 Lakhs paid for the Financial Year of 2020-21.
About Lagnam Spintex:
Lagnam Spintex is a 100% Cotton Ring and Open-End yarn manufacturer to cater to High-End Denims, Terry towels, Home textiles, Bottom wear, Shirting, Sheeting and Knitting segments. We export over 50% of our production and has been recognized as “One Star Export House” by the Director-General of Foreign Trade with a certificate valid from 2017 to 2022. Being one of the pioneer cotton yarn manufacturers globally, we have also received certification from USTER Technologies AG. We have a dedicated in-house Testing and Quality Control Team which undertakes rigorous testing and quality management while making the most out of the existing cutting-edge technology.
