Loyal Textile Mills Limited announced that due to adverse market conditions in the textile industry, which have significantly impacted demand, its company has decided to take measures to optimize the operations aiming at minimizing fixed cost and improving efficiency. In alignment with the industry trends and its strategic goals, the company decided to temporarily halt the spinning and weaving operations at its Naidupet unit, Andhra Pradesh. This unit has the capacity to support an annual turnover of INR 1,600 million.

However, presently due to lower demand, the company has been unable to achieve full turnover in this unit. The Company will closely monitor the situation and will commence Spinning and Weaving operations in the unit at the earliest possible. The garments operations will continue to operate in Naidupet unit.