Ruby Mills Experiences Operations Disruption Due to Work Stoppage in Dhamni Weaving Division
Workmen at Ruby Mills Ltd have abstained from reporting for duty at its Dhamni facility, leading to a work stoppage within the company's Dhamni Weaving Division. The disruption stems from an ongoing wage settlement process.The Company has maintained continuous discussions with workmen aiming for an amicable resolution. A mutually negotiated understanding was reached, and a draft settlement was circulated for execution. However, certain workmen subsequently assembled at the factory gate but refused to enter or report for duty, initiating the work stoppage.
While the affected division faces disruption, Ruby Mills confirmed that its other manufacturing operations remain unaffected. The Spinning Division and Processing Division continue to operate normally, and the company is actively working to minimize any impact on its overall operations.
The matter is currently under conciliation before the Assistant Labour Officer. The Company has also initiated appropriate legal and administrative proceedings with competent authorities and is coordinating with local police and labour authorities to maintain peace and facilitate a swift restoration of normalcy.
Operational Impact Assessment
Management assessed the current state of the disruption, detailing the scope and financial exposure in the following areas:| Particulars | Details |
|---|---|
| Affected Unit | Dhamni Weaving Division at Dhamni, Taluka Khalapur, District Raigad, Maharashtra. |
| Cause of Stoppage | The work stoppage arose during the ongoing wage settlement process after certain workmen refused to execute a mutually negotiated draft settlement. |
| Expected Loss/Damage | The financial and operational impact is currently being assessed at an early stage. |
| Insurance Coverage | The Company does not expect material loss from this stoppage, nor is it covered under any insurance policy regarding the matter. |
Commitment to Resolution
The company confirmed that notwithstanding the localized disruption in the Dhamni Weaving Division, all other manufacturing operations are continuing as normal. Ruby Mills is taking necessary steps to minimize the impact on its operations and ensure it can continue servicing its customers. The management emphasized active engagement with statutory and administrative authorities at all levels to safeguard operations and facilitate an early return to standard functionality.RUBYMILLS Stock Price Movement
The Ruby Mills Limited stock is shedding value during the late afternoon session, trading down 0.54% to ₹323.7 as of 3:17 PM. The equity has seen a total traded volume of 2,575 shares in the live market so far today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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