Nagreeka Exports Limited , a recognized Star Trading House by the Government of India, has announced the resumption of operations at its Yavluj Spinning Plant in Maharashtra. The plant, which had been temporarily shut down due to operational issues since February, recommenced activities on August 13.

Plant Reopening Details

The company's spinning facility, located in village Yavluj, taluka Panhala, District Kolhapur, Maharashtra, had suspended operations earlier this year. In a regulatory filing to the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE), Nagreeka Exports confirmed that the plant has lifted the suspension of operations and is now working towards achieving normalcy.

Background of the Shutdown

The temporary shutdown, which lasted approximately six months, was initially communicated to the stock exchanges on February 21. The company cited operational issues as the reason for the closure at that time.

Management's Statement

Sushil Patwari, Chairman of Nagreeka Exports Limited, signed off on the regulatory filing, emphasizing the company's commitment to transparency and adherence to SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Impact and Outlook

The reopening of the Yavluj Spinning Plant is a significant development for Nagreeka Exports, as it marks the end of a prolonged operational disruption. While the company has stated that it is working towards normalcy, the full impact of the shutdown and the timeline for returning to full operational capacity remain to be seen.

Investors and stakeholders will likely be watching closely to assess how quickly the plant can ramp up production and what effect this might have on the company's financial performance in the coming quarters.

Nagreeka Exports Limited, with its registered office in Kolkata and operations in Maharashtra, continues to be a player in the textile exports sector. The resumption of operations at the Yavluj plant may signal a positive turn for the company as it seeks to overcome the challenges faced in the first half of the year.

Nagreeka Exports Limited, a prominent player in the textile industry, has announced significant changes in its key personnel. The company recently disclosed that Mrs. Akansha Agarwal has stepped down from her role as Company Secretary & Compliance Officer, effective June 12, 2023. Mrs. Agarwal cited personal reasons for her resignation.

New Compliance Officer Appointed

In response to this development, Nagreeka Exports has swiftly appointed Mr. Manoj Agarwal as the new Compliance Officer. Mr. Agarwal, who currently serves as the company's Chief Financial Officer, will assume his additional responsibilities as Compliance Officer effective June 13, 2023.

Interim Arrangement

The company has clarified that Mr. Agarwal's appointment as Compliance Officer is an interim measure. Nagreeka Exports is actively searching for a new Company Secretary and Compliance Officer to fill the position permanently. During this transitional period, Mr. Agarwal will handle the compliance duties alongside his existing role as CFO.

Experience and Expertise

Mr. Manoj Agarwal brings valuable experience in accounts and finance to his new role as Compliance Officer. His background is expected to be beneficial in maintaining the company's regulatory compliance and financial integrity during this transition period.

Nagreeka Exports Limited has not provided any further details regarding the timeline for appointing a permanent Company Secretary and Compliance Officer. Stakeholders and investors will likely be keen to observe how this change in key personnel might impact the company's operations and compliance procedures in the coming months.