The stock is trading lower by 3.7% on this news.
The company further mentioned that the fire incidence took place outside the manufacturing block, which then spread to packaging area and resulted into a fire outbreak. There were no human casualties reported. Further, the company is in the process of ascertaining the actual cause of fire and the loss caused by it. Also, adequate steps are being undertaken to ensure customer service at the earliest.
The company informed that this will have no significant impact on the company’s operations. Further, the company has adequate insurance coverage and has informed the insurance company about the incident.
Varroc Engineering Ltd is currently trading at Rs395.25 down by Rs13.7 or 3.35% from its previous closing of Rs408.95 on the BSE.