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KEI Industries Resumes Production: Suffered Loss of ₹10 Crores

24 June 20243 mins read by Angel One
KEI Industries Limited resumed production at its Rakholi and Chinchpada plants after the close of the labour strike.
KEI Industries Resumes Production: Suffered Loss of ₹10 Crores
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Following an earlier notification on June 19, 2024, regarding a partial production stoppage due to a labour strike at the Rakholi and Chinchpada plants, KEI Industries Limited is pleased to announce a positive development.

Strike Resolution and Resumption of Normal Operations

On June 21, 2024, the company announced that the labour strike had been successfully resolved. As a result, operations at both the Rakholi and Chinchpada plants returned to normal.

Mitigating Production Loss

The company is committed to minimising the impact of the strike. Fortunately, no damage occurred to company property during the stoppage. However, the strike did result in an estimated production loss of approximately ₹10 Crores.

Production Ramp-Up Strategy

KEI Industries Limited has a comprehensive plan in place to address the shortfall in production. The Rakholi and Chinchpada plants will implement a production ramp-up strategy to recover the lost output. This strategy will involve optimising production schedules, maximising workforce efficiency, and leveraging any available resources to expedite production.

Looking Ahead

The company remains committed to maintaining positive and productive relationships with its workforce. The company is confident in its ability to recover from this temporary setback and achieve its production goals for the current period.

Transparency and Communication

This update demonstrates the company’s commitment to responsible business practices and its ability to navigate unforeseen challenges. By prioritising production recovery and fostering positive labour relations, the company is well-positioned to achieve its objectives and maintain its strong market presence.

About KEI Industries Limited

Incorporated in 1968, KEI Industries Ltd manufactures wires and cables (W&C) like EHV cables, HT cables, and LT cables and sells them in India and overseas. On June 21, 2024, KEI Industries shares opened at ₹4,425.05 and touched the day high of ₹4,580.00 at 10:16 AM.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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