Gorani Industries develops new model, to launch new models; Stock plunges nearly 5%

15 Jun 2022 , 10:42 AM

Gorani Industries has informed to the exchanges that the Company has developed a new model in the range hood segment. As per the  regulatory filing, the product is fit for the Indian household as it is very economical and compact.

Further in a filing with stock exchanges the company said that it has completed with the testing and production of initial lot of 800 units which have been dispatched in the market as well. Gorani Industries has also finished testing of one more model of gas stove, the production of which shall be started soon.

“The Company has recently roped in Venkateswaran V. as its production head and Aditya Sharma for the heading of its QC department as the Company is adding more range of products in its future, the capacity extension in terms of machinery and manpower is in line. The company has seen an exponential growth in its yoy comparison of Q1. Against revenue of 23 million in Q1 2021”, said the company.

At around 10:38 AM, Gorani Industries was trading at Rs216 per share down by Rs11.05 or 4.87% from its previous closing of Rs227.05 per share on the BSE.