Gopal Snacks shares tumble 10% amid major fire at its Rajkot manufacturing facility
Gopal Snacks shares skidded as much as 10% on Thursday to Rs 406.75 on BSE after a major fire incident at the company’s snacks manufacturing facility on the outskirts of Rajkot city in Gujarat. The company disclosed this development in an exchange filing.
The snacks manufacturer said there had been no casualties or injuries onsite at the Rajkot factory and there has been no loss of data or disruption to the company’s IT systems due to the fire.
«The company has taken the appropriate measures to manage the incident and there have been no casualties or injuries among its personnel onsite. The safety of Gopal Snacks team members always remains its highest priority,» said Gopal Snacks in a stock exchange filing.
Meanwhile, the company has scaled up production activities at its Modasa and Nagpur facilities to compensate for the closure of the Rajkot facility due to the fire incident. Gopal Snacks said it is also engaging with third-party manufacturers to the extent that additional local capacity is required.
Gopal Snacks said all its assets are fully insured and the company has notified the insurance provider about the fire incident. Meanwhile, the snacks manufacturer said it is “working diligently to restore operations at the Rajkot I facility at the earliest.”
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