Cello World slipped 2.05% to Rs 604 after the company reported a fire incident at its wholly owned subsidiary, Cello Industries (CIPL), located in Daman and Diu.
The fire broke out on 18 February 2025, at approximately 3:00 PM in one of the furnaces at CIPL's facility in Dhabhel, Daman and Diu.The blaze was quickly controlled with the assistance of local fire brigade teams, and fortunately, no casualties or injuries were reported.
The company has clarified that CIPL has adequate insurance coverage, including coverage under a loss of profit policy. Furthermore, CIPL has already informed the insurance company about the incident. The management is in the process of ascertaining the loss to submit to the insurance company.
Cello World is a prominent player in the consumerware market in India with presence in the consumer houseware, writing instruments and stationery, and molded furniture and allied products and consumer glassware categories. It operates 13 manufacturing facilities across five locations in India.
The companys consolidated net profit rose 1.8% to Rs 86.40 in Q3 FY25 as against Rs 84.87 crore in Q3 FY24. Revenue from operations increased 5.7% to Rs 556.85 crore in the quarter ended 31 December 2024.
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