Hot Pursuit     17-Apr-23
Meghmani Organics tumbles after fire incident in Panoli plant
Meghmani Organics fell 3.64% to Rs 88.10, following a fire incident in the finished goods warehouse of the company's pigment plant located in Panoli (Gujarat) on 16 April 2023, at around 14:55 IST.
There were no casualties or injuries reported, and the authorities have been informed as the exact cause of the fire is under investigation. The company has insurance coverage to mitigate any losses, which are currently being assessed. As the fire occurred in the finished goods warehouse and not the production plant, there is no impact on production. Meghmani Organics will provide updates on the situation when necessary.

Meghmani Organics is a diversified chemicals company with a presence in the pigments and agrochemicals business. The company garners about 80% of its topline from the export markets as on FY22.

Its consolidated net profit declined 87.79% to Rs 8.35 crore on 14.19% fall in net sales to Rs 549.43 crore in Q3 December 2022 over Q3 December 2021.

Previous News
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