Manugraph India - Updates

• Security Code: 505324
• Company: MANUGRAPH

Manugraph India Ltd has informed BSE that the prevailing worldwide recessionary and sluggish market conditions have adversely impacted the orders of the Company. Some Customers have either cancelled or postponed or requested for keeping in abeyance, the confirmed orders, which in turn has resulted in piling up of the inventory beyond reasonably high level, and thereby increasing the cost carrying inventory. This situation constrained the management to implement cost cutting measures meticulously, one of such being operation of plants for five days a week instead of six days at both the units at Kolhapur.

The management is, however, hopeful that the situation will improve in the near future. The management will take periodic review of the situation and keep the exchange apprised of the important development.