Pioneer Distilleries stops operation at Balapur factory; down 5%

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26 Aug, 2025 12:21

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Moneycontrol BureauShares of Pioneer Distilleries has locked at 5 percent lower circuit post the manufacturing activities at Balapur factory has been stopped.The manufacturing activities at the factory located at Balapur, Dharmabad Taluka, Nanded District, Maharashtra, have been stopped due to shortage in water availability.The said plant has production capacity of the 100 kilo liters per day (KLPD) molasses based extra neutral alcohol (MENA).The production has already stopped with effect from February 01, 2016 on account of shortage in water availability due to less rains during monsoon season in the region."Subsequently, the company has explored various options of procuring water from various other sources for operating the MENA plant which have not been fruitful," company said in release.The MENA plant has contributed Rs 692,510,000 constituting 46 percent of turnover of the company during the financial year 2014-15.At 10:45 hrs Pioneer Distilleries was quoting at Rs 116.40, down Rs 6.10, or 4.98 percent.There were pending sell orders of 24,770 shares, with no buyers available.Posted by Rakesh Patil