Aarti Drugs slips as Tarapur unit gets affected by explosion

Aarti Drugs fell 2.40% to Rs 548 at 10:19 IST on BSE after the company said its unit in Tarapur MIDC got affected by explosion.

The announcement was made after market hours on Friday, 9 March 2018.

Meanwhile, the S&P BSE Sensex was up 339.67 points, or 1.02% to 33,646.81.

On the BSE, 2,235 shares were traded in the counter so far compared with average daily volumes of 1,743 shares in the past two weeks. The stock had hit a high of Rs 552.95 and a low of Rs 545.30 so far during the day. The stock hit a 52-week high of Rs 784.80 on 9 January 2018. The stock hit a 52-week low of Rs 456.25 on 24 May 2017.

Aarti Drugs announced that one of its units has been adversely affected due to massive explosion in adjoining Unit E - 107 of Novaphene Specialties situated at Maharashtra Industrial Development Corporation (MIDC), Tarapur. The assessment of damages is under process. The aforesaid unit contributed 16% of total revenue from operations of the company for the period ended 31 December 2017.

On a consolidated basis, net profit of Aarti Drugs rose 30.70% to Rs 23.33 crore on 15.79% rise in net sales to Rs 335.41 crore in Q3 December 2017 over Q3 December 2016.

Aarti Drugs is a pharmaceutical company. The company has a strong presence in the anti-diarrhea, anti-inflammatory therapeutic groups. With its manufacturing facilities at Tarapur and Sarigam, the company manufactures vitamins, anti-arthritis, anti-fungal, antibiotics, ACE inhibitors, besides its range in anti-diabetic, anti-cholinergic, sedatives and anti-depressant drugs.

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