Globe Textiles (India) Limited — Important, 01-05-2025: General Updates

Globe Textiles has announced a board meeting and decided to sell its outdated printing plant and machinery to Maruti Textiles Mill for Rs. 1.18 Cr. The printing unit, contributing Rs. 7.66 Cr in turnover last year and showing a negative return on net worth of 7.38%, faced operational inefficiencies and frequent shutdowns. Proceeds from the sale will be used to strengthen the core business and invest in advanced technology.