Gopal Snacks drops after fire incident at Rajkot facility

Gopal Snacks tumbled 6.66% to Rs 421.80 after the firm informed about a significant fire accident took place at one of its production unit situated at GIDC Metoda, in Gujarat, India on 12 December 2024 around 2:45 PM.

The company stated that it has taken appropriate measures to manage the incident, and there have been no casualties or injuries among its personnel onsite.

The packaged food maker has implemented measures such as production activities being scaled up at Modasa and Nagpur facilities to compensate for the current closure of the Rajkot I facility. Additionally, it is engaging with third-party manufacturers to the extent additional local capacity is required.

The firms assets are fully insured, and the insurance provider has been notified of the incident. All critical business systems, including SAP infrastructure, remain operational and secure, ensuring seamless business continuity without any data loss. There has been no loss of data or disruption to its IT systems, it added.

The FMCG company informed that it is working diligently to restore operations at the Rajkot I facility at the earliest. Management is confident that this incident will have no significant long-term impact on the companys operations or financial performance.

Gopal Snacks added that it will continue to provide regular updates on the situation as the operations at the Rajkot facility normalize.

Gopal Snacks is an FMCG company dealing in ethnic snacks, western snacks, and other products. The company offers a wide variety of savory products under its brand Gopal, including ethnic snacks such as namkeen and gathiya; western snacks such as wafers, extruded snacks, and snack pellets; and fast-moving consumer goods including papad, spices, gram flour or besan, noodles, rusk, and soan papdi.

Gopal Snacks standalone net profit rose 6.17% to Rs 28.89 crore on 12.57% increase in total revenue from operations to Rs 402.64 crore in Q2 FY25 over Q2 FY24.

Powered by Capital Market - Live News