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T T Limited updates on new projects

Posted On: 2019-04-10 13:05:59

During the Financial Year 2018-19, T T Limited have completed two Hi-Tech World Class Garment manufacturing Projects at Avinashi (Tamil Nadu) and at Gajroula (Uttar Pradesh).

These plants have been installed after modifying existing Spinning Mills buildings. Both plants have been approved for social compliance (SEDEX and WRAP) and as such now able to attract World giant garment importers on the strength of required compliance conditions for placing orders. High Tech World Class plants have been installed and quality systems have been put in place. Both these plants are eligible for Tuff Subsidies and State Government incentives presently in force for apparel industry.

This would further reinforce Company's focus on Garment Productions, Domestic Sales and Exports.

Company has also been exploring on test marketing basis in various other fields for diversification of Company's business to attractive and more ,profitable lines such as Packaged Food, Agri products, Bulk transportation, Retail business, E-commerce and Dairy Products. Depending upon the results of test marketing, consultations and. market feedback, Company will pick up new lines to expand its business turnover to develop Brand strength and value creation.

As per SEBI requirements, Board of Directors of the Company has been reconstituted. Shri Navratan Ji Dugar, Founder Independent Director has resigned as Independent Director of the Company as per SEBI requirement as his age had surpassed 75 years limit and he was not keeping good health lately. There is no other reason for his resignation.

Padma Shri V. R. Mehta Ji, has been re-appointed as Independent Director of the Company for a period of further 5 years subject to shareholder's approval in the next Annual General Meeting including approval for waiver of age limit of 75 years.

Shri V. R. Mehta Ji has exceptionally illustrative Administrative experience of serving from time to time as an Independent Director of some of the major Indian COmpanies such as Tata Motors, Tata Hitachi Construction Equipment Company, Tata Motors Finance, Century Enka, SPIC, Tamil Nadu Newsprint and Paper Limited (TNPL), TVS Motors, Essar Power, Haldia Petrochemicals etc. He was also the founder Managing Director of Dredging Corp-oration of India. He was also deputed to Asian Development Bank, manila, Philippines.

To energize T T Limited, a young highly dynamic practicing Chartered Accountant, Shri Ankit Gulgulia has been inducted as an Independent Director. He is expected to contribute substantial inputs for chalking out Company's strategy, economic policies and funding growth.

Shares of T T LTD. was last trading in BSE at Rs.53.55 as compared to the previous close of Rs. 54.1. The total number of shares traded during the day was 656 in over 8 trades.

The stock hit an intraday high of Rs. 53.6 and intraday low of 51.1. The net turnover during the day was Rs. 34765.

Source: Equity Bulls

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