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AUTOLINE INDUSTRIES LTD. Capital/Financing Update 2021
62064_rns_2021-06-30_2e0f85fd-bb1a-4dcc-8974-c59b69594f92.pdf
Capital/Financing Update
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AUTO $\bigwedge$ LINE
AUTOLINE INDUSTR Regd. Office: Survey Nos. 313/314, Nanekarwadi, Chakan. Tel - Khed, Dist. - Pune: 410 501, INDIA $\frac{2}{3}$ : +91 2135 665865 / 66 Website: www.autolineind.com
CIN-L34300PN1996PLC104510
Date: June 30, 2021
To.
The Bombay Stock Exchange Limited, First Floor, New Trading Ring, Dalal Street, Rotunda Building, Fort, Mumbai - 400 001 General Manager, Listing Corporate Relations Department BSE-532797
The National Stock Exchange of India Ltd Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (East) Mumbai- 400 051 Vice President, Listing Corporate Relations Department NSE-AUTOIND
Dear Sir/Madam,
Sub: Business Update pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015
Currently the Company is operating through its 7 manufacturing facilities spread across India along with in-house Design & Style Centre.
In continuation of Company's initiatives to achieve the operational efficiency, cost reduction and to reduce the debt, the Company has taken one more major step by way of consolidating one of its manufacturing facility situated at Gat. No. 613, Mhalunge, Tal. Khed, Dist. Pune to its Chakan Units situated at Pune.
The Company has executed Sale Deed on June 29, 2021 to transfer the said plant, land and buildings thereon ("immovable property") situated at Gat. No. 613, Mhalunge, Tal. Khed, Dist. Pune. Further, the Company has repaid the outstanding loan of Axis Bank Ltd from the sale proceeds and utilize the sale proceeds and thereby has reduced overall debt exposure of the Company.
The Company believes that the consolidation of facilities will accrue substantial operational efficiency, cost savings, add to better working capital management and smoothening of supply chain management by utilizing the available resources in Chakan Unit.
This is for your information and necessary dissemination. Thanking you,
Yours truly. For Autoline Industries Limited
Ashish Gupta
Company Secretary Mem. No. A16368
