Lagnam Spintex Limited has deposited a MAT (Minimum Alternate Tax) of Rs. 4.45 crores for the ongoing financial year 2021-22, a rise of 468 percent compared to the previous year.
The company has deposited Rs. 3 crore as MAT in its latest tranche, and had deposited Rs. 1.45 crore in the previous tranche. The company has deposited Rs 95 lakhs as the MAT in the year 2020-21.
In September 2021, Rajasthan based Lagnam Spintex Limited was migrated to the mainboard of the National Stock Exchange (NSE) from the NSE Emerge platform. The migration was effective from September 30, 2021.
Commenting on the key announcement, Mr. Anand Mangal, Promoter and Managing Director of Lagnam Spintex Ltd, said, “It is really a proud moment for us as the company known for its quality and commitment. We are actively participating in the development and economic growth of the nation from our end.”
Lagnam Spintex was incorporated in 2010 and is engaged in the business of manufacturing high quality open end yarn for domestic and export markets.
Its products are used for Denim, Terry Towels, Bottom Wears, Home Textiles and Industries Fabrics. The Bhilwara situated company has its manufacturing plant spread across 48,000 square meters.
The Company has continuously expanded and modernized the facilities in line with the industry trend and the Company plant is equipped with modern and automatic plant and machinery.