P G Foils Limited Reports Fire at Rajasthan Plant, Estimates Loss Up to Rs 3 Crore

PG Foils , a prominent player in the aluminum foil industry, has reported a fire incident at its manufacturing facility located in Pipalia Kalan, Pali district, Rajasthan. The company has disclosed that the estimated loss from the fire ranges between Rs 2.50 crore to Rs 3.00 crore.

Impact on Operations

The fire has led to a partial suspension of operations at the affected plant. PG Foils has stated that some of the plant's activities have been temporarily halted due to the incident. However, the extent and duration of this partial suspension remain unclear.

Financial Implications

While the fire has resulted in significant damage, PG Foils has assured stakeholders that the loss is adequately covered by insurance. This coverage is expected to mitigate the financial impact on the company's balance sheet.

Damage Assessment

The company has provided an initial estimate of the damage caused by the fire:

Next Steps

PG Foils is likely to conduct a thorough assessment of the damage and work towards resuming full operations at the Pipalia Kalan plant. The company has not yet provided a timeline for the complete restoration of the facility.

Investors and stakeholders will be watching closely for further updates on the incident's long-term impact on the company's production capabilities and financial performance. PG Foils may release additional information as the situation develops and a more detailed evaluation of the fire's consequences is completed.