Bhilwara-based Lagnam Spintex Limited has deposited a MAT (Minimum Alternate Tax) of Rs. 4.45 crore for the ongoing financial year 2021-22 – a rise of 468 per cent compared to the previous year.
In a statement, the company said that it has deposited Rs. 3 crore as MAT in its latest tranche, and had deposited Rs. 1.45 crore in the previous tranche. The company had deposited Rs. 95 lakhs as MAT in 2020-21.
Incorporated in 2010, Lagnam Spintex is engaged in manufacturing of high-quality open-end yarn for domestic and export markets. These yarns are used for a variety of garments, home furnishing products and industries fabrics.
With 25,536 spindles and 1,920 rotors for cotton yarn having capacity to produce 35 tonnes per day of high-quality yarn, its manufacturing plant is spread across 48,000 square metres.
Anand Mangal, Promoter and MD of the company said, “It is really a proud moment for us. With best quality products and commitment, we are doing well.”
It is worth mentioning here that in September 2021, the company was migrated to the mainboard of the National Stock Exchange (NSE) from the NSE Emerge platform. The migration was effective from 30 September 2021.