Fire incident at Aarti Drugs' Maharashtra unit, production disrupted

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Aarti Drugs - manufacturer of Active Pharmaceutical Ingredients (APIs) - has reported a fire a fire incident at one of its units located in Maharashtra, that has caused a temporary disruption of production.

The incident occurred at the N-198 unit located at Tarapur, Maharashtra, which manufactures Active Pharmaceutical Ingredients (API) products for customers. The fire was brought under control immediately and there has been no loss of life or injuries, the company said, however, production operation at the unit has been temporarily disrupted.

There was no significant impact on the share price of Aarti Drugs, on June 18, and on YTD basis, the shares were higher by five percent.

Aarti Drugs said it is difficult to assess the extent of financial impact due to the fire incident, though the management statement projects 'no material impact on the financials and operations of business.'

Steps are being taken to restore operations at the unit, which the company said has adequate insurance coverage. The insurer has been informed about the incident, the company added in a statement.