Pursuant to regulation 30 and 33 of the SEBI (Listing obligation and disclosure
requirements) regulation 2015, this is to inform you that the Board of Directors of the Company in their meeting held today i.e. 29th May, 2018, has approved the Audited Financial Results (Standalone and Consolidated basis) for the Quarter and Year ended on 31st March, 2018.
The Board of directors of the Company has taken note in its meeting held today that Multinational Textiles Group Limited (MTGL), its wholly owned subsidiary company, intends to utilize consolidated free reserves as per the MTGL consolidated balance sheet as at 31st March, 2018 for expansion of sourcing and manufacturing business of various subsidiaries and reduction of debt in order to enhance the value of shareholders of the Company. Accordingly, MTGL will not be in a position to declare any dividends to the Company in foreseeable future.
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