Future Supply Chain Solutions falls on facing disruption in operations due to non-payment

Future Supply Chain Solutions is currently trading at Rs. 37.55, down by 0.75 points or 1.96% from its previous closing of Rs. 38.30 on the BSE.

Future Supply Chain
Future Supply Chain

The scrip opened at Rs. 39.10 and has touched a high and low of Rs. 39.10 and Rs. 36.40 respectively. So far 97281 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 121.95 on 16-Jun-2021 and a 52 week low of Rs. 24.00 on 12-May-2022.

Last one week high and low of the scrip stood at Rs. 39.10 and Rs. 28.60 respectively. The current market cap of the company is Rs. 163.91 crore.

The promoters holding in the company stood at 22.62%, while Institutions and Non-Institutions held 0.06% and 77.32% respectively.

Future Supply Chain Solutions is facing ‘frequent disruption of business operations’ at a few of its warehouses due to non-payment/part payments to the labour and on-roll manpower. The company’s labour and on-roll manpower are ‘intermittently disrupting’ the business activities.

Following this, the management of the company apprehends that prolonged disruption of contracts by clients would ”adversely affect the business operations, which would ultimately disturb the ability of the company” to service its monetary obligations and various others. The debt-ridden company is facing disruptions at a few of its warehouses, including the largest one situated at MIHAN – Nagpur.

Future Supply Chain Solutions is one of India’s largest organised third-party logistics service operators. The company offers automated and IT-enabled warehousing, distribution and other logistics solutions to a wide range of customers.

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