Archies Ltd clarifies on seizure of toys

The company has clarified in a notification to the stock exchanges with reference to the news article that mentions about the seizure of 18500 toys from Hamleys, Archies and other retailers. However, only 118 toys belonged to Archies Limited.

These toys belonged to the period, when the current BIS certification / 151 was not required and we were taking the applicable EN-71 and BIS:IS:9873 certificates and had applied labels according to the then applicable regulations. The new BIS certification gazette took effect from 01st September, 2020.

Our legal team is working to get more information from authorities to get our toys back. We understand that this matter is not material which requires disclosure.

Shares of Archies Limited was last trading in BSE at Rs. 24.25 as compared to the previous close of Rs. 23.95. The total number of shares traded during the day was 17299 in over 120 trades.

The stock hit an intraday high of Rs. 25.10 and intraday low of 23.15. The net turnover during the day was Rs. 415385.00.

Source : Equity Bulls

Keywords

Archies INE731A01020 Clarification ToysSeizure