Prakash Woollen & Synthetic Mills Limited announced 1st letter dated 24.06.2021 in which intimation regarding expansion plan to enhance production capacity of the company by 50% was informed. In the said letter had informed that the project was expected to complete by the end of financial year 2021-22 and commercial production was expected to commence from the beginning of the financial year i.e. April, 2022. Please refer to 2nd letter dated 01.04.2022 in which the Stock Exchange was informed that the commencement of the commercial production which was going to commence from April, 2022 got delayed due to delay in completion of the expansion project on account of unavoidable circumstances.

Now the Stock Exchange is hereby informed that due to the delay in completion of the expansion project, the Bank has re-phased the term loan in accordance kith the delayed completion of the project. Now the commercial production is expected to commence by the end of this financial year i.e. March, 2023.