Lambodhara Signs Lease Agreement With Suriya Spinning

Lambodhara Signs Lease Agreement with Suriya Spinning

Lambodhara Textiles engaged in textile business operates a yarn producing mill specializing in synthetic yarns has entered into a lease agreement with Suriya Spinning Mills Unit B and Sri Akkamma Textiles to utilize their spare capacity of 3,024 spindles and 6,048 spindles respectively, for conversion of fiber into yarn.

This deal will enhance the spinning capacity of the company and will have an impact on its overall performance. The conversion of fiber into yarn is set to commence from November.

The company is currently trading at Rs.107.6, up by Rs.6.05 or 5.96 per cent from its previous closing of Rs.101.55 on the BSE. The current market cap of the company is Rs.92.18 crore.

The products of the company have been well established in the domestic market. The company also established to export yarn as soon as the modernization program is complete, that by January 2008.

The company has also commenced production of slub yarns for knitting and has been very successful in marketing the same and the volumes are picking up multi fold month over month.

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