Murli Inds to revamp its businesses

Murli Industries, operating in various business segments, including edible oil production, today said it has decided to consider and appoint various agencies for valuation of its units for revamping its operations.

The board of directors has empowered the managing director to form a committee which take decisions in this regard, Murli Industries said in a filing to the Bombay Stock Exchange (BSE).

The committee would have the power to appoint necessary agencies required for valuation of various business units of the company with the help of experts, it said.

The panel would further look into various options of demerging its business in different verticals, it said.

The company operates in eight business segments comprising solvent extraction, duplex paper board, news print, captive power generation, writing and printing paper, solid bleach sulphate board, cement and pulp mill.

After proper assessment, the committee would submit the evaluation report to the MD and board for a final decision, it said.

Besides, the board has also decided to look into a proposal for developing a logistic hub at Nagpur, where it owns approximately 250 acres, it said.

The board decided to capitalise on the opportunity by developing the hub on its land located at the outskirts of Nagpur, it said.

The board also resolved to explore possibilities of entering into infrastructure business as the firm was growing very fast and establishing new plants in different places, it said.

Shares of the company closed at Rs 82.40, down 0.72 per cent from the previous close on the BSE.