Repair Operations at Rudrapur MDF plant of Greenpanel Industries Ltd has been extended

Due to delay in import of component of refiner from Sweden, the estimated time for repair of refiner, has been extended. The normal operation of MDF Plant at Rudrapur is expected to be resumed by December 16, 2021.

Value of the parts to be replaced, estimated by us at Rs 2.00 crores plus duties, taxes and service charges. The company has already intimated the Insurance Company regarding the breakdown. lnsurance claim shall be lodged with the lnsurance Company post reinstatement of component and ascertaining the actual loss.

Due to suspension of operations at the plant, the company will incur losses, an estimate of which can be done only post receipt of report from the Vendor's engineer. The company has an insurance policy which covers loss of profits beyond 14 days from the date of breakdown. The estimate is that the company will incur losses of Rs 4 crores on account of fixed overheads during this period which will not be covered by insurance.

The company shall also update upon resumption of normal operations of the above plant.

Shares of Greenpanel Industries Limited was last trading in BSE at Rs. 382.20 as compared to the previous close of Rs. 388.20. The total number of shares traded during the day was 17045 in over 996 trades.

The stock hit an intraday high of Rs. 394.90 and intraday low of 381.50. The net turnover during the day was Rs. 6623503.00.

Source : Equity Bulls

Keywords

GreenpanelIndustriesLimited INE08ZM01014 GREENPANEL MDFPlant Rudrapur RepairDelayed