Filatex Mines and Minerals Secures Major Export Orders and Appoints New CEO

Filatex Mines and Minerals Pvt Ltd, subsidiary of Filatex Fashions Ltd, has secured export orders worth Rs. 661 crore in a month. Additionally, Mr. Sunil Agarwal has been appointed as the new CEO. The company has approved a 5-for-1 stock split and is planning significant business expansions.

Filatex Mines and Minerals Pvt Ltd, a subsidiary of Filatex Fashions Ltd, has achieved a significant milestone by securing export orders worth Rs. 661 crore (USD 78,875,000) in just one month. On August 29, 2024, the company received an order from Société DIMO - BTP SARL to supply 1,59,000 tonnes of marble polished tiles, valued at USD 43,875,000 (Rs 368 crore) over five years. This marks the second major order for the company this year, following a previous order for white marble worth USD 35 million (Rs. 293 crore).

Filatex Fashions Ltd has also announced the appointment of Mr. Sunil Agarwal as the new CEO and Additional Director in the Executive Director category, effective from July 26, 2024, pending shareholder approval. Mr. Agarwal brings over a decade of expertise in Financial Services, Advisory, Investment Advisory, and Risk Management.

The company has also approved a 5-for-1 stock split to enhance liquidity in the capital market, with the record date set for August 9, 2024. Filatex Fashions Ltd continues its growth trajectory with plans to set up a wholly-owned subsidiary for textile exports in Delhi and a new corporate office in Mumbai.

(With inputs from agencies.)