NCLAT directs fresh review of Eagle Fashions’ bid for Sumeet Industries, sets aside NCLT order.

NCLAT Orders Fresh Review Of Eagle Fashions’ Proposal For Sumeet Industries

Bids for the debt-laden textile company Sumeet Industries have been weaker than lenders’ expectations as high input costs and weak demand in the industry have kept large bidders away. Banks received bids ranging from ₹90 crore to ₹150 crore indicating a recovery of just 22%, much lower than the ₹250…

Textile slump mutes debt-laden Sumeet Industries appeal for suitors

These bidders are UP-based Bhola Ram Papers & Power, Bhilosa Industries and Bhumi Tex Industries of Mumbai, Gujarat’s Eagle Group and Silvassa-based Geelon Industries, said people in the know. Two large companies - Reliance Industries and Kolkata-based Chatterjee Group company MCPI - have not submit…

Five bidders in race for textile manufacturer Sumeet Industries

These companies have officially submitted their interest along with supporting documents earlier this month and will be now scrutinised by the resolution professional before calling for formal bids for the company.

Reliance, MCPI among 8 in race for textile manufacturer Sumeet Industries

Sumeet Industries Ltd, HLV Ltd, Ugar Sugar Works Ltd and Nitco Ltd are among the other losers in the BSE’s ‘B’ group today, 21 December 2022.

Orient Green Power Company Ltd leads losers in ‘B’ group

Sumeet Industries reports consolidated net loss of Rs 33.38 crore in the September 2022 quarter

The current market cap of the company is Rs68.71 crore.

Sumeet Industries’ Karanj plant to remain shutdown for 15 days; Stock sheds 4%

Sumeet Industries consolidated net profit rises 58.72% in the December 2021 quarter

The company is into textiles and its products are polypropylene filament yarn, grey cloth, etc.

Sumeet Industries pays OTS amount to SBI; Stock trades higher

The shutdown is for general and other scheduled maintenance works.

Sumeet Industries to shutdown plant in Surat for scheduled maintenance

Sumeet Industries reports consolidated net profit of Rs 1.87 crore in the September 2021 quarter

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Average profitability - not good, not bad

Profitability

Fundamentals

Not a good time to consider, stock is in the overbought zone

Technicals

Entry point

The stock has a moderate number of red flags

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Sumeet Industries Limited manufactures and exports polyester filament yarn. The Company offers products, such as polyester chips, polyester yarn and polypropylene yarn.