Piramal Pharma Temporarily Suspends Operations at Gujarat Facility Due to Severe Flooding

Piramal Pharma Temporarily Suspends Operations at Gujarat Facility Due to Severe Flooding​

Piramal Pharma Ltd has temporarily suspended operations at its manufacturing facilities located in Ahmedabad, Gujarat, following reports of exceptionally heavy rainfall and consequent flooding across parts of the state. The suspension was initiated as a precautionary measure for the complex situated at Plot Nos. 18 and 19 within the PHARMEZ Pharmaceutical Special Economic Zone.

The company confirmed that all employees, including contract staff, at the affected manufacturing sites are safe. Operations at the facilities in Matoda have been temporarily halted due to waterlogging caused by the heavy rainfall in Gujarat.

Piramal Pharma has taken necessary actions to assess the condition of the facilities and is working to ensure a safe and orderly resumption of activities as quickly as possible. The extent of any impact on assets or operations is currently being evaluated by the company.

The operational normalization is expected gradually over the coming days, dependent on the improvement in weather conditions. To mitigate potential risks, Piramal Pharma confirmed that all assets at the affected facilities are adequately covered under the company's existing insurance policies.

In terms of corporate scale, the manufacturing sites located in Ahmedabad account for less than 3% of the company’s consolidated revenues. The company stated it will provide further updates regarding any material developments or financial implications as appropriate.

PPLPHARMA Stock Price Movement​

Piramal Pharma Limited shares gained 0.21% in post-market trading today, settling at ₹181.27. The stock traded within an intraday range of ₹178.24 to ₹182.32 during the session.