Hikal Ltd - Updates on GPCB closure order

Hikal Ltd has recently received a communication from the Gujarat Pollution Control Board (GPCB) directing the Company to cease operations of its plant located at GIDC Panoli, Dist. Bharuch, within 15 days from the order date. This directive comes in light of an alleged violation reported to have occurred in 2021.

We firmly believe that the closure direction is subject to reconsideration, and we have expressed our stance on the matter to the relevant authorities. Our commitment to environmental responsibility remains unwavering.

Hikal is deeply committed to upholding the principles of Responsible Care and sustainable business practices. As a Responsible Care Certified company, we aim to maintain our focus on long-term sustainability and conduct our operations with unwavering ethics.

We understand the importance of transparency in our communications with our valued investors and stakeholders. Our priority is to keep the interests of our shareholders protected and maintain the highest level of corporate governance.

At Hikal, we take environmental compliance with the utmost seriousness, and we recognize the significance of adherence to regulations and maintaining ecological harmony. We wish to assure our stakeholders that we are taking immediate and appropriate measures to address the concerns raised by the regulatory authorities. Our team is actively engaged in working with the GPCB to thoroughly understand the reasons behind the direction and to seek a resolution in the most efficient and transparent manner possible.

Shares of Hikal Limited was last trading in BSE at Rs. 302.45 as compared to the previous close of Rs. 305.65. The total number of shares traded during the day was 8935 in over 460 trades.

The stock hit an intraday high of Rs. 310.10 and intraday low of 301.50. The net turnover during the day was Rs. 2711170.00.

Source : Equity Bulls

Keywords

Hikal INE475B01022 GPCB OperationsClosure GIDC Panoli