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Fire accident at PG Electroplast Ltd's washing machine division

Posted On: 2019-06-15 17:12:31

PG Electroplast Ltd has announced that a fire broke out on June 15, 2019 at around 02.30 A.M. in Washing Machine Division of the Company situated at P-4/6, Site-B, UPSIDC Industrial Area, Surajpur, Greater Noida, Dist. Gautam Budh Nagar, (U.P.) - 201306.

The fire was extinguished with help of Fire Department and prevented from spreading to other areas in the factory. The Fire Department is still at work at the said place to have a continuous watch on the incident. We are currently investigating the matter with the help of local law enforcement and administration.

The raw materials and finished goods stored therein are destroyed/damaged. However, all of them are adequately insured. Further, no damage caused to the manufacturing facility therein and we expect to resume operations at washing machine division within a week.

As per our preliminary assessment, this unfortunate incident would not affect our top line and bottom line growth for the current financial year and would not have any material bearing on the overall operations / performance of the Company. However, we are in the process of appraising the actual impact.

Shares of PG ELECTROPLAST LTD. was last trading in BSE at Rs.59.25 as compared to the previous close of Rs. 60.55. The total number of shares traded during the day was 9208 in over 70 trades.

The stock hit an intraday high of Rs. 60.95 and intraday low of 59. The net turnover during the day was Rs. 547303.


Source: Equity Bulls

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