Ineos Styrolution in an exchange filing on Friday announced that its plant located at Nandesari in the state of Gujarat caught fire in one of its sections.
The company said that the fire was extinguished internally and the plant was brought to safe mode. One worker was injured and is currently undergoing treatment at a local hospital.Furthermore, the company said all operations have been discontinued at the Nandesari plant, till further assessment of the cause and implementation of corrective plans. The company's other manufacturing facilities located at Moxi, Katol and Dahej in Gujarat.
INEOS Styrolution is the leading, global styrenics supplier with a focus on styrene monomer, polystyrene, ABS standard and styrenic specialties. The company's net profit tumbled 54% to Rs 47.42 crore on a 5.6% increase in net sales to Rs 511.91 crore in Q3 FY22 over Q3 FY21.
Shares of Ineos Styrolution declined 2.72% to close at Rs 1050.35 on Friday.
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