Gandhar Oil Refinery Assesses Impact on Operations Following Severe Flooding at Silvassa Plant
Gandhar Oil Refinery (India) Ltd is currently assessing the operational and asset impact of a natural calamity affecting its manufacturing plant located in Silvassa, Dadra & Nagar Haveli, U.T. The company confirmed that unprecedented heavy rainfall over the past 48 hours led to severe waterlogging and flooding across various parts of the Silvassa area.The company has initiated comprehensive steps to evaluate the extent of the damage caused by the flood-like conditions on its assets, operations, and production capabilities. Appropriate measures are being taken to restore normal functioning at the earliest opportunity.
Regarding mitigation and exposure, Gandhar Oil Refinery (India) Ltd stated that it holds adequate insurance coverage for the incident, and this matter has been intimated to the relevant insurance company. The specific unit affected is Unit No. 2, located at Plot No. 2, Survey No. 678/1/3, Village Naroli, Silvassa (D & N H)- 396230, U.T.
The details regarding the impact assessment are as follows:
| Particulars | Details |
|---|---|
| Expected quantum of loss/damage caused | The Company is assessing the impact of this natural calamity, if any, on the Company's assets, operations, and production. |
| Whether loss/damage covered by insurance or not including amount | The Company has adequate insurance coverage and the incident has been intimated to the insurance company. |
| Estimated impact on the production/operations in case of strikes/lock outs | The Company is currently assessing the impact on production/operations. |
| Factory/Unit where the strike/lock out takes place including reasons for such strike | Unit No. 2, Plot No. 2, Survey No. 678/1/3, Village Naroli, Silvassa (D & N H)- 396230, U.T. |
GANDHAR Stock Price Movement
Shares of Gandhar Oil Refinery (India) Limited slipped on Friday, shedding 0.46% to settle at ₹282.46 after trading activity that included a volume of 35.87 million shares. The stock's performance was notable as it had previously tested its 52-week high mark at ₹303.17 earlier in the year.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.