At meeting held on 28 May 2019
Rajapalayam Mills announced that the Board of Directors of the company at its meeting held on 28 May 2019 has decided to shift majority of machines installed at Andhra Pradesh Unit to its Parent Unit located at Rajapalayam, Tamil Nadu for better control over operations and costs. After shifting the majority of the machineries, the Company will initiate the process of selling the residual machines, land & building of AP Unit.Total revenue generated by the Unit at Andhra Pradesh for the year ended 31 March 2019 was Rs.38,43 Crores, which constitutes 9% of the total revenue of the Company. There will not be any reduction of revenue/ profits of the Company since majority of the machineries are being shifted to parent unit at Rajapalayam.
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