Ramco Industries has informed that the Company is having a Pressure Pipes manufacturing unit located on the Leasehold land at Maksi, Shajapur District, M.P., with an installed capacity of 30,000 M.T. p.a. Company entered into a lease agreement on 9.7.2001 with Kanoria Sugar & General Manufacturing Co., New Delhi to lease out the Buildings and Plant and Machinery of pipe manufacturing plant at Maksi. The agreement expired on 31.3.22. The agreement was not renewed further. The Company proposes to discontinue the said operations and dispose of old plant and machineries, pertaining to Pipe plant, having a book value of Rs 33 lakhs as on date which represents 0.07% of net block of Plant, Property and Equipment and the impact will be negligible on the affairs of the Company. The said proposal was placed before the Board at its meeting held on 28.10.22 and the same was discussed and approved by the Board.
The above information is a part of company’s filings submitted to BSE.
