S H Kelkar and Company Ltd shifts production due to fire incident at Vashivali facility

Pursuant to fire incident at S H Kelkar and Company Limited's ('the Company') Vashivali facility, to mitigate the impact of fire on the fragrance unit at Vashivali, the company has shifted its production at its site in Mulund, which houses Keva Fragrance export unit with a capacity of 5000 tn per shift per year. Additionally, the Company has converted its Flavour facility at Mulund, which has a capacity of 4000 tn per shift per year, for Fragrance manufacturing. With these facilities operating in double shifts, Company has adequate capacity to service all customer requirements.

In view of the aforementioned, the entire Flavour manufacturing (Domestic and Export) will get consolidated at Vashivali site which was not impacted by fire and has adequate infrastructure to support entire flavour operation without any additional investments.

Customer servicing resumed from April 30, 2024, ensuring that our commitments to clients continue to be met progressively. This transition has resulted in a backlog of around 10 days which the Company is confident to restore to normal service level by the end of this month.

Company has a comprehensive insurance coverage to cover for the loss. The surveyor and the insurance company are in the process of ascertaining the loss.

Shares of S H Kelkar and Company Limited was last trading in BSE at Rs. 197.95 as compared to the previous close of Rs. 190.95. The total number of shares traded during the day was 42597 in over 1186 trades.

The stock hit an intraday high of Rs. 199.30 and intraday low of 188.10. The net turnover during the day was Rs. 8314663.00.

Source : Equity Bulls

Keywords

SHKelkarandCompany INE500L01026 FireIncident ProductionShift