Jain Resource Recycling reports furnace explosion at Unit II, one fatality

Jain Resource Recycling reported a furnace explosion at its Unit II manufacturing facility in Gummidipoondi on July 14, 2026, resulting in the death of one labourer and injuries to several others. The company has temporarily suspended operations in the affected section as a precautionary measure while cooperating with statutory authorities to ascertain the cause of the incident. The financial impact of the accident is currently being assessed, though the damage is covered by insurance.

The accident occurred at the facility situated at Plot Nos. R1, R2 & R3, SIPCOT Industrial Complex, Gummidipoondi, Tiruvallur District, Tamil Nadu. Injured personnel were immediately shifted to nearby hospitals for medical treatment, and the company stated it is extending all necessary support to the affected individuals and their families. The disclosure was made to the National Stock Exchange of India Limited and BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of the Incident

The company provided specific details regarding the occurrence in an annexure to its regulatory filing. The following table outlines the current status of the assessment and operational impact:

Sr. No.	Particulars	Details
a)	Expected quantum of loss/damage caused	The Company is in the process of evaluating the extent of damage or loss caused due to the fire. Any material development in this regard shall be informed to the Stock Exchanges in accordance with the applicable provisions of the SEBI (LODR) Regulations, 2015.
b)	Whether loss/damage covered by insurance or not including amount	The damage caused due to the fire accident is covered under insurance.
c)	Estimated impact on the production/operations	Operations in the affected section of the Factory have been temporarily suspended due to the fire incident as a precautionary measure. Further, since the Company is in the process of ascertaining the damage caused by the fire, the estimated impact, if any, on the production / operations due to the fire will be intimated in due course.
d)	Factory/unit where the strike/lock out takes place including reasons for such strike	Not applicable

Jain Resource Recycling confirmed that it remains committed to providing full support to the affected families and is cooperating fully with the ongoing investigation. The company is yet to determine the specific extent of the production loss or the financial implications of the temporary suspension.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+3.45%	-1.24%	-2.71%	-17.08%	+7.34%	+7.34%

Jain Resource Recycling has approved a corporate guarantee of ₹50 Cr for its joint venture, Jain CY Circular Solutions Private Limited, to secure banking facilities. The Borrowing and Investment Committee of the Board of Directors granted the approval on July 13, 2026. The guarantee will be issued in favour of ICICI Bank Limited to facilitate working capital and other short-term facilities for the joint venture company.

The corporate guarantee will be treated as a contingent liability in the books of accounts of Jain Resource Recycling. There is no immediate cash outflow from the company on account of the issuance of this guarantee. The transaction has been conducted in the ordinary course of business and on an arm's length basis.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the promoter, promoter group, or group companies do not hold any shares in the joint venture and therefore have no interest in this transaction.

Details of the Corporate Guarantee

The following table outlines the key particulars of the guarantee as disclosed in the filing:

S. No.	Particulars	Description
1	Name of party for which guarantee was given	Jain CY Circular Solutions Private Limited (Jain CY)
2	Interest of promoter/group companies	No interest. The promoter/promoter group/group companies do not hold any shares in the Joint Venture company.
3	Brief details of agreement	Corporate Guarantee issued in favour of ICICI Bank Limited to facilitate Jain CY Circular Solutions Private Limited to secure working capital and other short term facilities.
4	Impact on listed entity	Treated as contingent liability. No immediate cash outflow.