Stock Exchange News: Akshar Spintex Bags Rs 171 Crore International Order

According to the company, the order is expected to provide a substantial boost to the company’s revenue.

Stock market news: AksharSpintex Ltd has informed the stock exchanges that it has secured a major international order. It has bagged an order worth Rs 1.71 billion or Rs 171 crore, according to a stock exchange filing with the BSE. As part of the order, the company will supply high-quality yarns to several fast fashion brands through a globally recognized customer.

“This ₹ 171 crore milestone involves the supply of high quality yarn to various fast fashion brands through a globally recognized customer, known for its association with prestigious fashion labels,” the company said.

According to the company, the order is expected to provide a substantial boost to the company’s revenue. It also said that fulfilling such a large international assignment would increase Akshar Spintex’s global market presence.

“The successful execution of this order reflects the operational excellence of Akshar Spintex Ltd. Our ability to meet and exceed international demand demonstrates the efficiency, reliability and robustness of our operational processes. It marks a critical step towards sustainable success in the global textile landscape, and our commitment remains steadfast in creating lasting value for our shareholders and maintaining positive momentum in our business operations,” the filing said.

Moreover, the company has an average operating leverage of 88.76. The company’s strategic location in Gujarat, one of India’s top cotton-producing regions, provides access to a steady supply of raw materials and government incentives, increasing operational efficiency.