Filatex Fashions Bags $35M Export Order for White Marble

Hyderabad-based Filatex Fashions' subsidiary has secured a USD 35 million export order to supply white marble for 54 hospitals in Africa. This marks the first export order for the company's mining arm. Additionally, shareholders approved a 5:1 stock split, and Sunil Agarwal was appointed as the Additional Director and CEO.

Hyderabad-based socks and cotton products exporter Filatex Fashions has announced that its subsidiary has secured an export order worth USD 35 million (around Rs 293 crore) for supplying white marble.

The order, received from hospital development firm Bloomflora Ventures Ltd, is for 54 upcoming hospitals in Africa, and will be fulfilled over seven years.

This marks the first export order for Filatex's mining subsidiary, Filatex Mines and Minerals Pvt Ltd.

In related news, Filatex Fashions' shareholders have approved a stock split of 5:1, aimed at enhancing liquidity and expanding the shareholder base. The decision was made at an extra-ordinary shareholders meeting held on July 15.

Furthermore, the company's Board of Directors has appointed Sunil Agarwal as an Additional Director and CEO in the Executive Director category at its meeting on July 26, 2024.

(With inputs from agencies.)