Fire incident temporarily halts production at Aarti Drugs unit

Aarti Drugs, a manufacturer of Active Pharmaceutical Ingredients (APIs), reported a fire incident at one of its units in Maharashtra, causing a temporary production halt.

The fire broke out at the N-198 unit in Tarapur, Maharashtra, which produces API products. The fire was quickly controlled with no reported injuries or loss of life. However, the production at the unit has been temporarily disrupted.

Advertisement

Despite the incident, there was no significant impact on Aarti Drugs’ share price on June 18. On a year-to-date basis, the shares are up by five percent.

The company stated it is challenging to determine the financial impact of the fire. However, management does not expect a material effect on the company’s financials and operations. Efforts are underway to restore operations at the affected unit, which is adequately insured. The insurer has been notified about the incident.