Lagnam Spintex deposits Minimum Alternate Tax of Rs 4.45 cr up to December quarter

Lagnam Spintex Limited has deposited a MAT (Minimum Alternate Tax) of Rs. 4.45 crores for the ongoing financial year 2021-22, a rise of 468 percent compared to the previous year, a company statement said.

The company has deposited Rs. 3 crore as MAT in its latest tranche, and had deposited Rs. 1.45 crore in the previous tranche. The company has deposited Rs 95 lakhs as the MAT in the year 2020-21, as per the company statement.

In September 2021, Rajasthan-based Lagnam Spintex Limited was migrated to the mainboard of the National Stock Exchange (NSE) from the NSE Emerge platform. The migration was effective from September 30, 2021.

Commenting on the key announcement, Anand Mangal, Promoter and Managing Director of Lagnam Spintex Ltd, said, "It is really a proud moment for us as the company known for its quality and commitment. We are actively participating in the development and economic growth of the nation from our end."