The Ruby Mills Disburses ₹101 Crore to Shreem Corp's Resolution Professional
Ruby Mills, a prominent textile company, has transferred ₹101.00 crore to the Resolution Professional of Shreem Corp. The purpose and context of this substantial payment remain undisclosed. This transaction suggests Ruby Mills' potential involvement in Shreem Corp's corporate resolution or restructuring process.
Ruby Mills, a textile manufacturer, released Q4 results showing a 9.3% YoY revenue increase to ₹803.20 crore. However, EBITDA decreased to ₹138.80 crore from ₹185.80 crore, with EBITDA margin falling to 17.27%. Net profit slightly declined to ₹160.00 crore from ₹162.00 crore YoY but improved QoQ. The board recommended a final dividend of ₹1.75 per equity share.