Incident Details
An unfortunate incident involving a gas leakage occurred at the Company's manufacturing facility situated at Plot B-14, Mahad MIDC, District Raigad, Maharashtra, on August 15, 2026. The company activated its emergency response and safety protocols immediately upon occurrence.
Human Impact
The company regrets to inform that one person working at the company's facility succumbed following the incident. Additionally, one person working at a neighbouring industrial unit subsequently succumbed during medical treatment. Certain other persons working in the vicinity were affected and were provided medical attention. The company is extending necessary support and assistance to the bereaved families and cooperation to concerned authorities.
Operational Impact
As a precautionary measure, operations at the Company's Mahad manufacturing facility have been temporarily suspended with effect from 15th August, 2026. The suspension was implemented in the interest of safety of employees, workers, and other stakeholders to facilitate inspection, investigation, assessment, and implementation of necessary safety measures.
The company is presently unable to ascertain the exact period of suspension of operations but will take all necessary steps to resume operations at the earliest.
Cause and Investigation
The exact cause and circumstances leading to the gas leakage are presently under investigation by competent statutory authorities. The company is not in a position to comment conclusively on the cause of the incident at this stage and is extending full cooperation to all concerned authorities.
Business Impact Assessment
There is a temporary disruption of operations at the Mahad facility. The company is presently assessing the impact of the suspension on production, dispatches, customer commitments, inventory, and other operational activities.
The company has other manufacturing facilities and will evaluate the possibility of managing customer requirements through its other manufacturing locations, subject to product specific requirements, available capacity, and applicable regulatory requirements.
Based on presently available information, the company does not presently anticipate any material impact on its overall business operations, though the assessment is ongoing.
Financial Impact and Insurance
The extent of damage/loss to the affected area, plant, and equipment and the consequential financial impact, including impact on production and operations, is presently under assessment and the exact quantum is not ascertainable at this stage.
The company's manufacturing facility is covered under applicable insurance policies. The extent of insurance coverage applicable to the loss/damage arising from the incident and the amount recoverable, if any, are presently under assessment.
Disclosure Timing
The disclosure was made on August 17, 2026, which the company states is at the earliest practicable opportunity after verification and consolidation of the material information available, following their engagement in emergency response and safety measures.
Future Communications
The company will keep the Stock Exchanges informed of material developments in relation to the incident, including the outcome of the investigation, the extent of damage/loss, the financial impact, progress on remedial measures, and the expected/actual date of resumption of operations at the Mahad facility.