Event Description
Due to exceptionally heavy rainfall and flooding across parts of Gujarat resulting in waterlogging, the operations at the Company's manufacturing facilities located at Plot Nos. 18 and 19 – PHARMEZ - Pharmaceutical Special Economic Zone, Village Matoda, Sarkhej Bawla, NH 8A, Taluka Sanand, Ahmedabad - 382 213, Gujarat, India, have been temporarily suspended as a precautionary measure.
Key Updates
- All employees, including contract staff, at the affected facilities are confirmed to be safe.
- The Company has initiated necessary actions to assess the condition of the facilities and to facilitate a safe and orderly resumption of operations at the earliest.
- The extent of the impact, if any, on assets and operations is currently under evaluation.
- Subject to the improvement in the weather conditions, the operations are expected to gradually normalize over the next few days.
- The assets at the affected facilities are adequately covered under the Company's insurance policies.
Financial Context
The affected Ahmedabad facilities together account for less than 3% of the Company's consolidated revenues.
Forward Statement
The Company shall provide further updates, including any material developments or financial implications, as appropriate.