Inflame Appliances plunges 5% after suffering fire accident at Panchkula factory

15 Feb 2022 , 09:22 AM

Inflame Appliances Ltd has informed to the exchanges regarding fire accident in factory situated at village Bagwali of the Company.

As per regulatory filing, a major fire accident took place at Company’s One Shed of 12800 Sq Ft. containing CNC Machinery (Out of Total 5 Sheds in Factory) located at Village Bagwali, Panchkula on Sunday, February 13, 2022 at around 02.45p.m.

The reason of fire is yet to be ascertained. Fire was controlled within time and fortunately, there was no injury or loss to human life. Further Business Operations at other sheds are not affected. However the impact of the fire in operations is not expected to have any material bearing on the production and the projected profitability.

‘We would like to clarify that the Company has adequate insurance coverage and have already informed the Insurance Company about the incident. The Company is in process of ascertaining the actual loss caused due to the fire”, said company on Monday.

The Company is taking adequate steps to ensure refunctioning of Operations at Shed affected at the earliest and to make sure that the operations at other departments/locations are not disrupted. Any further development related to this incident will be intimated to all the Stakeholders, it further added.

At around 9:23 AM, Inflame Appliances was trading at Rs374.20 per piece down by 4.99% on the BSE.