Gujarat Fluorochem slides 5% post ‘incident’ at CMS-1 plant

The shares of Gujarat Fluorochemicals Limited slipped 5.08% to an intraday low of ₹4,175.50 per share on Monday after an ‘incident’ occurred at its CMS-1 plant on Saturday, December 28, 2024. 

The incident led to a pause in the plant’s operations for a short while. Four people that were present at the plant and within the vicinity of the incident suffered injuries and were immediately admitted to the hospital at Dahej and then moved to Bharuch for further treatment. The four people faced complications during medical procedures and lost their lives thereafter.

The company, in an exchange filing, reported, “Gujarat Fluorochemicals Ltd., (GFL) has always placed utmost priority to Safety in all its operations over the years. However, we would like to inform you that there was an incident at the CMS-1 plant on December 28, 2024, which was immediately isolated but the operations of the said Plant were temporarily disrupted. Due to this, four persons who were present at the said Plant and within the vicinity of wind direction got affected, were immediately admitted to the hospital at Dahej and thereafter, shifted to Bharuch for further treatment. During the treatment at Bharuch Hospital, due to the subsequent complications, they could not be saved.”

The company has committed that each of the families of the 4 people that lost their lives will receive an ex-gratia amount of ₹30 lakh and full settlement of statutory dues, insurance benefits, as well as pending salaries. The company has also offered employment to the deceased person’s ward and sponsoring his education (Degree in Engineering) prior to it.

Gujarat Fluorochemicals Limited, formerly known as Inox Fluorochemicals Limited, was established in 2018 and is a prominent player in the Indian chemical industry.

At 12:30 PM on Monday, the shares of Gujarat Fluorochemicals Limited are trading at ₹4,243.70 per share as compared to the previous close of ₹4,399.10 per share on the National Stock Exchange (NSE).