Mumbai : New Light Apparels Ltd. has announced a 10:1 stock split, which will be effective from October 10, 2024, which could prove to be an important moment for both existing shareholders and future investors. This strategic move will reduce the face value of each share from Rs 10 to Re 1, making it more affordable for a wider range of investors, especially retail investors who often find high priced stocks prohibitive. With the current share price at Rs 75.6, the split is set to make the stock more accessible, open up new investment opportunities and enhance liquidity.
This announcement couldn't come at a better time for New Light Apparel, a company driven by innovation and strong financial performance. Known for its cutting-edge lab-grown cotton technology, the company has successfully established itself at the forefront of sustainable textile production. The amount of money it takes to produce it is what makes New Light Apparels a great player in the apparel industry, as it can produce cotton at a much lower cost than traditional methods.
A game-changing innovation
New Light Apparel's competitive edge lies in its proprietary lab-grown cotton technology, which has transformed its production model. Traditional cotton production comes with high costs, environmental concerns, and the unpredictability of climate change that impacts yields. On an average, conventional cotton costs about Rs 30 per square meter to produce. However, with lab-grown cotton, New Light Apparels has reduced that cost to just Rs 7 per metre, an astonishing 76% reduction. This success not only enhances the company's profitability but also establishes it as a leader in eco-friendly textile manufacturing.
Lab-grown cotton has many benefits beyond cost savings. This significantly reduces water consumption, which is a significant concern in water-scarce areas. Furthermore, by avoiding the use of harmful pesticides and fertilizers, the company keeps pace with the growing consumer demand for eco-friendly products. As awareness of climate change and ethical consumerism grows, New Light Apparels is tapping into an attractive market catering to the needs of environmentally conscious shoppers globally.
(with agency input)
Comments are closed.