Vardhman Textiles will be selling its 40% stake in Vardhman Yarns and Threads to A&E Global. It will get Rs 396 crore from the sale of its stake in the yarns and threads business and plans to focus more on its yarns and fabrics segment.
The company plans to use sale proceeds to fund business expansion and looks to maintain its margins between 18-22 percent in this fiscal. Currently, the company has no plans to reduce any debt because the long-term debt is all debt under Technology Up-gradation Fund (TUF) which is highly subsidized low cost debt.
Vardhman Textiles, incorporated in 1973, is one of the pioneers in textile industry with operations in the segments of yarn, sewing thread, steel, and fabric.
Company Name | CMP |
---|---|
PDS | 470.50 |
Vardhman Textiles | 460.70 |
Arvind | 380.35 |
Welspun Living | 140.00 |
Alok Inds | 27.22 |
View more.. |