Vardhman Textiles board plans to split shares on January 22
Vardhman Textiles said its board of directors will meet on Saturday, January 22, 2022 to consider the proposed spin-off / subdivision of the company’s shares.
On the same day, the board will also review the company’s unaudited financial results for the quarter / nine months ended December 31, 2021.
Vardhman Textiles is part of the Vardhman group which is engaged in the textile industry. The group’s business portfolio includes the yarn, fabric, sewing thread, fibers, special alloys and clothing sectors.
The company’s consolidated net profit jumped to Rs 481.49 crore in the quarter ended September 2021, from Rs 60.22 crore in the previous quarter ended September 2020. Sales increased 46.75% in year on year to reach Rs 2,385.08 crore in the second quarter of FY22.
The script lost 0.76% to currently trade at Rs 2,546.90 on BSE.
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