Alok Industries will hold a meeting of the Board of Directors of the Company on 30 June 2020.

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Alok Industries has locked down its manufacturing Units (w.e.f. 25 March 2020) and Offices till further instructions of the Management.

The Management has taken necessary steps to curb the spread of COVID-19. The Company has sanitized and disinfected its offices and plants and has enforced the “Work from Home” policy for its employees.

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Net Loss of Alok Industries reported to Rs 194.49 crore in the quarter ended December 2019 as against net loss of Rs 1307.66 crore during the previous quarter ended December 2018. Sales rose 22.70% to Rs 873.33 crore in the quarter ended December 2019 as against Rs 711.76 crore during the previous quarter ended December 2018.

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Alok Industries announced that the following resolutions have been considered and approved by circulation as part of the process involved in the commencement of implementation of the approved Resolution Plan:

1. Re-classification of Authorised Share Capital of the Company by reduction in the face value of Equity Shares of the Company;

2. Consequent amendments in the Capital Clauses of the Memorandum of Association and Articles of Association of the Company pursuant to reclassification of Authorised Share Capital of the Company;

3. Reduction in the face value of the Subscribed, Issued and Paid-up Equity Share Capital of the Company from Rs. 10/- to Re. 1/- per share;

The Record Date has been fixed as Monday the 3rd February 2020 for the purpose of effecting the reduction of face value of each existing equity share of the Company.

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