Rudra Ecovation Reports Q1 Loss, Appoints New Independent Director
Rudra Ecovation, a textile manufacturer, reported a net loss of Rs 86.86 crore for Q1 ended June 30, compared to Rs 25.58 crore loss in the same period last year. Revenue from operations slightly decreased to Rs 527.88 crore from Rs 533.93 crore. The company announced board changes, including the resignation of Mr. Surjit Singh and appointment of Mr. Dharam Veer Singh as Non-Executive Independent Director. Various committees were reconstituted, and the Securities Transfer Committee was merged with the Stakeholder Relationship Committee. A scheme of amalgamation between Rudra Ecovation and Shiva Texfabs Limited is pending approval from BSE and SEBI.