Gujarat Fluorochem shares down 4% after 'incident' led to four deaths, temporarily disrupts Dahej plant

The mishap took place at the CMS-1 plant in Dahej, Gujarat, and was immediately isolated but the operations have been temporarily disrupted.

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Shares of Gujarat Fluorochemicals are lowering on December 30, after the company reported an incident of leak at the Dahej plant on December 28 which resulted in four deaths, involving one employee and three contractual workers.

The mishap took place at the CMS-1 plant in Dahej, Gujarat, and was immediately isolated but the operations have been temporarily disrupted, said the company.

"The incident happened on 28th December 2024, around 8 pm, which was immediately detected and contained by the team. However, individuals in the windward direction experienced adverse health effects who were promptly given due primary treatment at our onsite Occupational Health Center (OHC) and were referred to Bharuch Hospital for advanced medical care for advance treatment. Unfortunately, despite all our efforts, the four individuals succumbed to the complications," the statement on December 29 said.

The management said it has taken immediate steps to support the bereaved families with an ex-gratia amount of Rs 30 lakhs, along with full settlement of statutory dues, insurance benefits, and pending salaries. Gujarat Fluorochemicals said it is also offering employment to deceased employee's ward and sponsoring education.

Read More: Gujarat Fluorochem's EV arm raises Rs 1,000 crore to fund expansion

Gujarat Fluorochem's Dahej plant was unveiled in 2007, and it produces fluoropolymers, specialty and bulk chemicals. It is the largest fluoropolymer plant in India. GFL  has five manufacturing units, three in Gujarat, and one each  in UAE and Morocco.

The company has been transitioning towards more value-added products across segments, and has embarked on a plan to simplify the corporate structure through demerger, in order to enhance shareholder value. The management has guided for substantial improvement in financials from Q4FY25 onwards, despite challenges that it saw in the first half due to demand slowdown from Europe. The company has lined up a capex of Rs 5,000 crore by FY27.