Automobile parts maker, Sharda Motor Industries Ltd on Monday said it has shut a manufacturing unit at Greater Noida from where it supplied canopies to Maruti Suzuki and Mahindra & Mahindra.
The entire business operations and activities carried out at a unit of the company located at Surajpur Bypass Industrial Area, Greater Noida in Uttar Pradesh for manufacturing and supply of canopies for Maruti Suzuki and Mahindra & Mahindra, has been discontinued, Sharda Motor Industries said in a regulatory filing.
Elaborating the reasons for the closure, it said, "the Maruti Suzuki business for model 'Gypsy' was discontinued due to demerger of seating business of the company."
Moreover, the filing added that the production and supply facility for Mahindra & Mahindra are being shifted to Nasik unit in Maharashtra.
The Greater Noida unit had revenue from operations of around Rs 1.66 crore in 2020-21, the company said adding it expects to complete the closure of the unit by April 30.
(Published 12 April 2021, 10:47 IST)
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