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Walchandnagar Industries (WIL) said that it has withdrawn its earlier suspension of operations order and instead declared a lockout at its Satara manufacturing plant, effective 12 April 2025. The plant had initially suspended operations on 20 March 2025, citing violent collective acts by workmen. The unrest reportedly broke out as the company attempted to relocate workers from Satara to its other facility in Walchandnagar, Pune district, as part of an internal restructuring to offer meaningful work. The temporary shutdown was costing the company an estimated Rs 10 lakh per day in lost production. In the latest regulatory filing, WIL clarified that while the Satara unit remains under lockout, its other manufacturing plants in Walchandnagar (Pune) and Dharwad (Karnataka) continue to operate normally with no suspension of production activities. WIL, a legacy player in India's heavy engineering and project execution space, offers a wide range of hi-tech manufacturing, engineering products and services. The company reported a standalone net loss of Rs 17.13 crore in Q3 FY25, a marginal improvement from a loss of Rs 18.66 crore in the same quarter last year. Net sales, however, saw a 5.7% year-on-year growth, touching Rs 59.07 crore in Q3 FY25. Shares of WIL jumped 4.85% to settle at Rs 172.90 on 11 April 2025. The Indian stock market is closed today, 14 April 2025, on account of Ambedkar Jayanti. Powered by Capital Market - Live News |