Latteys Industries Limited Migrated to Main Board of National Stock Exchange
May 23, 2023
NewsVoir
Ahmedabad (Gujarat) [India], May 23: Latteys Industries Limited (Latteys) (ISIN: INE262Z010123 One of the leading manufacturers of Solar Pumps & Water Pumps products has migrated to the Main Board of NSE.
This is yet another achievement for the company and propels the company to the next stage of its growth path. The company got listed on the NSE Emerge on 05th June 2018. The IPO had come with IPO price of Rs. 66 and the company has given bonus of 3:2 to its shareholders in the month of October 2022.
Speaking on the Occasion, Kapoor Chand Garg, Managing Director and Chairman of Latteys Industries Limited said, "This is a big day for us by completing the migration to the main board of NSE from NSE Emerge Platform. The migration will provide a boost to the growth of the company. Migration will help our company to attract more investors and bring more liquidity to the market owing to possibility of trading in single share v/s a lot size in Emerge. Will also pave way for the growth capital to help the company for its future business growth. We visualize ourselves as highly acceptable, trustworthy and reliable brand in the Submersible Pump market and we hope that we will achieve the same height in the Led segment as well."
The Ahmedabad, Gujarat Based Latteys Industries Limited was established in the year of 2004, is an ISO 9001:2015 certified company is India's leading manufacturer of energy efficient submersible pumps, serving to agricultural, industrial, domestic and horticultural sectors on Pan India since year 2004, is engaged in the product portfolio of the company includes Submersible, Self-Priming, Centrifugal Mono block, Shallow-well and Horizontal Open well Submersible Pump sets. Company manufactures more than 1500 models of pumps at its portfolio.
The Company's plant is located at GIDC Naroda, Gujarat with an area of 1,00,000 sq. ft., The company currently has an installed production capacity of approximate 2,50,000 pumps per annum. The manufacturing facilities are equipped with requisite machineries, measuring instruments and testing equipment's to keep up a constant check on quality. The Company has more than 500 Dealers & 150+ Service Centers at PAN India level basis.
Besides serving to the domestic market the Company also exports its products to many countries and is recently awarded with an order for 6.10 Cr for the domestic and exports.
The company has recently diversified in the LED light segment with Home, and Industrial and Road infrastructure Lighting. The Company provides complete home lighting, Road/street lighting solution under the brand name of LATTEYS. The company is in the process of launching its products across India and is already gone ahead in appointing dealers and distributors for the same.
The Company's sales for the year ending March 22 is Rs. 40.85 Cr., with a net profit of Rs. 1.03 Cr. The promoters holding at present is 72.08% and the face value of the Company is Rs. 2/-.
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