Synopsis: Shares of Bhageria Industries Limited were in focus after the Maharashtra Pollution Control Board ordered a temporary shutdown of the sulphonation section at its Tarapur plant following an oleum leakage incident. The company stated the closure is precautionary and expects no significant financial impact.
The shares of this company, which is in the certified business of manufacturing dyes & dye intermediates and solar power generation, distribution and EPC contracts, were in the news following the company’s plant in Maharashtra being shut down after an oleum leakage.
With a market cap of Rs 650 crore, the shares of Bhageria Industries Ltd are trading at Rs 150 and are trading at a PE of 13 compared to their industry’s PE of 16.7. The shares have given a return of more than 2,000% since their listing in July 1995.
About the Incident and Plant Shutdown
Shares of Bhageria Industries Limited have seen increased attention as the company has issued an alert to the stock exchanges about a disruption in its operations at one of its facilities. It has to do with its H-acid product manufacturing unit at the MIDC Tarapur Boisar Industrial Area in Maharashtra, as operations in the sulphonation section have been directed to temporarily shut down.
The direction to shut down operations was issued by the Maharashtra Pollution Control Board due to an incident that took place at the H-Acid Product Manufacturing Unit of the company. It has to do with a measuring tank filled with oleum that fell and led to leakage and the spread of oleum fumes in the surrounding area, leading to a temporary fog-like environment near the unit. However, it is worth noting that there were no injuries or casualties reported due to the incident.
This is a precautionary measure and is for safety purposes. For this reason, the pollution control authority asked the company to voluntarily shut down its sulphonation section of its H-Acid manufacturing plant under the Water and Air Pollution Control Acts. This is usually done for safety checks and ensuring compliance with law before resuming operations.
The company said it is for a temporary shutdown and is a precautionary measure. They would undertake a safety audit of the plant. Once they have done this, they would approach the pollution board for necessary approvals. They would also approach the Directorate of Industrial Safety and Health (DISH) for approval before commencing operations.
The company said that despite this shutdown, it would not impact its financial and business operations significantly. They have reaffirmed their commitment to complying with all environmental and other regulations and would keep shareholders informed of developments when they obtain approval and resume operations.
Financials
The revenue from operations for the company stood at Rs 242 crore in Q3 FY26 compared to the Q3 FY25 revenue of Rs 170 crore, up by about 42 per cent YoY. However, the net profit stood at Rs 11 crore in Q3 FY26, the same compared to the Rs 11 crore profit in Q3 FY25.
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