Textiles company Aarvee Denims and Exports shares hit the upper circuit limit in Friday's intraday trade after the company informed the exchanges that it is targeting accelerated growth and market expansion as it has achieved bank debt-free status by clearing all outstanding loans.
The company has completed repayment of all outstanding loans from banks, eliminating interest costs and giving more flexibility to compete globally, Aarvee Denims and Exports said in a statement.
Aarvee Denims and Exports has now positioned itself for accelerated growth, innovation and market expansion, it added.
The textiles firm had been cutting down debt liabilities in recent years. Its total liabilities reduced to around Rs 204 crore as of March 31, 2025, from Rs 438 crore in the year ended on March 31, 2024.
The company reported a revenue of Rs 182 crore for 2024-25 against Rs 91.33 crore in the year-ago period.
Shares of the company were trading at Rs 145.92 per share on the NSE, up 5 percent at 2:55 PM.
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