May 16, 2021

Sharda Motor Industries shuts down manufacturing unit at Larger Noida

Vehicle elements maker, Ltd on Monday mentioned it has shut a producing unit at Larger Noida from the place it provided canopies to and & Mahindra.

Your entire enterprise operations and actions carried out at a unit of the corporate positioned at Surajpur Bypass Industrial Space, Larger Noida in Uttar Pradesh for manufacturing and provide of canopies for Maruti Suzuki and Mahindra & Mahindra, has been discontinued, Sharda Motor Industries mentioned in a regulatory submitting.

Elaborating the explanations for the closure, it mentioned, “the Maruti Suzuki enterprise for mannequin ‘Gypsy’ was discontinued resulting from demerger of seating enterprise of the corporate.”

Furthermore, the submitting added that the manufacturing and provide facility for Mahindra & Mahindra are being shifted to Nasik unit in Maharashtra.

The Larger Noida unit had income from operations of round Rs 1.66 crore in 2020-21, the corporate mentioned including it expects to finish the closure of the unit by April 30.