News for Suryalata Spinning Mills Limited (SURYALA.BO)

Shares of Suryalata Spinning Mills, which hit a 52 week low of Rs 272.40 on December 23, 2022 surged to a high of Rs 700, on April 11 this year translating into 157% gains during the period.

Promoters of Suryalata Spinning Mills have pledged 35.98% or 10.80 lakh shares in the firm at the end of December quarter.

Suryalata Spinning Mills reported nearly 17 per cent growth in net profit at Rs 25.88 crore for nine months ended December 2022. On the other hand, gross sales increased 8.33 per cent to Rs 372.94 crore in 9MFY23. Earlier, the company posted 154 per cent YoY growth net profit at Rs 47.75 crore for the year ended March 31, 2022. Gross sales increased by 73.70 per cent YoY to Rs 480.34 crore in FY22.

The companys board meeting will be convened to consider and revise the remuneration payable to Sunay Krishna Khaitan, wholetime director of the company within the limit approved by the shareholders in the AGM.