Grasim Industries Ltd notified yesterday that a fire occurred at one of the VSF manufacturing Unit of the Company at Harihar, Karnataka, India (“Unit”) (installed capacity – 95K TPA) on 30th April 2023 at around 19:30 pm (IST), which was put off in around ~ 2 hours.
This has led to stoppage of Unit operations temporarily. The fire incident has not resulted into any human injury or casualty. The loss of the material / equipment is being assessed, which is adequately covered by the appropriate Insurance policy.
The management has initiated steps for early restart of the operations, which may take about 3-4 weeks’ time. However, the product supply to the customers will not get impacted as the demand will be met from inventory at Harihar / other VSF Units of the Company. As a result, this is not likely to have material impact on the Company’s profitability.
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