Patel Retail Limited has announced a board meeting. The company reported its financial results for the quarter and half-year. There have been operational changes regarding depreciation methods and lease accounting. IPO fund utilization is on track.
Patel Retail has commissioned a new Curry Powder Production Line with an 8-ton per shift capacity. The company invested approx. Rs. 80 Lakhs, financed via internal accruals, to boost manufacturing and meet growing demand in domestic and export markets.
Patel Retail's Board has approved the audited financial results for the year. The company also recognized Right-of-Use assets and lease liabilities due to updated lease agreements, impacting depreciation and finance costs without affecting cash flows.
Patel Retail Limited confirms it does not meet the criteria for a Large Corporate as per SEBI regulations. This update pertains to operational status.
