Gokaldas Exports' godown in bangalore catches fire

A major fire broke out at a raw material godown of Gokaldas Exports Ltd, the country’s biggest apparel exporter, damaging properties worth several crores in the wee hours of today.

Karnataka State Fire and Emergency Services Department (KSFES) officials ruled out any casualty.

Gokaldas Exports, in a statement to the Bombay Stock Exchange (BSE), said loss from the fire was being assessed. The godown, used to store fabrics, is covered by insurance. The godown at Peenya Industrial area on the outskirts of Bangalore caught fire at 2.30 am today.

“Some of the export garment deliveries will have to be re-negotiated. Steps are being taken to contact company’s customers and re-fix the delivery dates. The company feels that this incidence will not have a major impact on the revenue and production of the company. Alternative arrangements are being made,” said a company statement.

Though the exact reason for the mishap is yet to be ascertained, electrical short circuit is suspected to have caused the blaze. Electrical experts from the department were carrying out the investigation, B G Changappa, director, KSFES said.

“We brought the fire and smoke under control after four hours of operation. We engaged 29 fire fighters and each fire fighter made two-three trips to bring the fire under control. The company officials are yet to estimate the damage to their property,” Changappa told Business Standard.

Gokaldas has an order book of Rs 500 crore for the first and second quarter of 2010-11. The company for the third quarter ended December 31, 2009 reported a flat top line of Rs 283 crore and came back into black with Rs 5.34 crore.

This is the fifth fire accident in the city in the last two months. In February, nine persons died when a major fire broke out in Carlton Towers. This week, another fire broke out in Gold Towers on Residency Road.