Agriauto Industries Ltd Declares November Partial Shutdown

Abdullah

03 Nov 2023

312

Agriauto Industries Ltd Declares November Partial Shutdown

Agriauto Industries Limited (PSX: AGIL) has officially notified the Pakistan Stock Exchange (PSX) about its decision to enact a partial shutdown, which stems from diminished production volumes among its principal clientele. This disclosure was relayed to the PSX on Wednesday.

Partial Shutdown in November 2023

In their official filing, the company has elucidated, "In light of the decreased production volumes by our primary patrons, the organization will execute a partial shutdown during the course of November in the year 2023."

Impact on Subsidiary

Agriauto Stamping Company Private Limited, a fully-owned subsidiary of Agriauto Industries Limited, will likewise experience a partial shutdown during the month of November 2023 due to the identical factors expounded in the official filing.

Sustained Occurrences of Partial Shutdowns

It is noteworthy that Agriauto has consistently encountered prolonged episodes of partial shutdowns since February of the year 2023. Agriauto is principally engaged in the fabrication and sale of components tailored for automotive vehicles, motorcycles, and agricultural tractors.

Stock Market Performance Update

At the point of submitting this information, the company's security at the stock exchange was valued at Rs. 69.9, marking a 5.05 percent decrease equivalent to Rs. 3.72. On the day of this announcement, the company saw a transactional turnover of 56,000 shares.

Agriauto Industries Ltd Partial Shutdown November Closure Business News Manufacturing Industry Company Announcements Operational Update Corporate News Production Halt Manufacturing Sector Agriauto Ltd Company Operations Shutdown Notice Industry Developments

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