Godrej Industries skids after reporting incidence of fire at Valia plant

Godrej Industries skidded 3.15% at 327 at 15:00 IST on BSE after the company informed about a fire in a section of the company's plant at Valia, Gujarat.

The company made announcement during market hours today, 8 June 2015.

Meanwhile, the S&P BSE Sensex was down 140.13 points or 0.52% to 26,628.36.

On BSE, so far 38,929 shares were traded in the counter as against average daily volume of 48,897 shares in the past one quarter.

The stock hit a high of Rs 339.65 and a low of Rs 319 so far during the day. The stock hit a 52-week high of Rs 409.50 on 28 May 2015. The stock hit a 52-week low of Rs 261.55 on 16 December 2014.

The stock had underperformed the market over the past one month till 5 June 2015, dropping 8.43% compared with Sensex's 2.45% fall. The scrip had however outperformed the market in past one quarter, gaining 1.17% as against Sensex's 9.1% fall.

The company has equity capital of Rs 33.59 crore. Face value per share is Re 1.

Godrej Industries said that the fire was brought under control immediately. The cause of the fire and necessary repairs required is being assessed. The company has adequate fire insurance cover and the above incident is not expected to have any material impact on the financial performance of the company.

Godrej Industries' consolidated net profit rose 21.6% to Rs 138.96 crore on 16.9% rise in total income to Rs 2432.63 crore in Q4 March 2015 over Q4 Mach 2014.

Godrej Industries is India's leading manufacturer of oleochemicals and makes more than a hundred chemicals for use in over two dozen industries. It also manufactures edible oils, vanaspati and bakery fats. Besides, it operates real estate. GIL is a member of the Godrej Group, which was established in 1897 and has since grown into a $1.875 billion conglomerate.

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