Vardhman Polytex Ltd to Close Manufacturing Unit in Ludhiana for Land Monetization and Debt Repayment

Vardhman Polytex Ltd has announced the closure of its manufacturing unit in Ludhiana. The decision is part of the company's strategy to monetize the real estate potential of the land and repay outstanding liabilities to lenders. The unit contributed 19.74% of the company's revenue during the last financial year. The net worth of the company is negative, standing at Rs. 36,103.76 Lakh. The closure is expected to be completed by March 31, 2025. The board meeting where this decision was made started at 10.30 AM and ended at 11.00 AM on March 10, 2025.