Gujarat Fluorochemicals Share Price Drops Over 4% After Plant Incident

Gujarat Fluorochemicals share price fell by 4.87% on Monday, December 30, 2024, hitting an intraday low of ₹4,182.10. The decline followed a tragic incident at the company’s CMS-1 plant on December 28, which temporarily disrupted operations.

Incident at CMS-1 Plant

The company reported that an incident occurred at its CMS-1 plant, affecting 4 individuals who were exposed to the wind direction during the event. They were promptly admitted to a hospital in Dahej and later transferred to Bharuch for further treatment. Despite efforts, all 4 succumbed to complications.

Company’s Response

Gujarat Fluorochemicals assured that the incident was quickly contained and that its operations are insured under an existing policy. The company is providing the following support to the affected families:

• ₹30 lakh ex-gratia payment per family.
• Full settlement of statutory dues, insurance benefits, and pending salaries.
• Employment opportunities and educational sponsorships for the families of the deceased employees.

About Gujarat Fluorochemicals

Incorporated in 2018 as part of the INOX Group, Gujarat Fluorochemicals Limited (formerly Inox Fluorochemicals Limited) is a leading player in India’s chemical industry. The company manufactures fluoropolymers, fluoro specialities, chemicals, and refrigerants. Gujarat Fluorochemicals is among the top 5 global producers of fluoropolymers, exporting to regions like Europe, the Americas, Japan, and Asia. Its product lineup includes:

• Fluoropolymers: PTFE, PFA, FEP, FKM, and PVDF.
• Fluorospecialities: Agrochemical and pharmaceutical-grade products.
• Refrigerants: HCFC 22 and other refrigerants.
• Industrial Chemicals: Caustic soda and chloroform.

Facilities and Global Presence

The company operates manufacturing units in Dahej, Ranjitnagar, and Morocco (fluorospar mining). The Dahej plant is India’s largest fluoropolymer facility. Gujarat Fluorochemicals has established a strong global presence with offices and warehouses in major markets across the Americas, Europe, and Asia.

The recent incident has raised concerns, but the company has reaffirmed its commitment to safety and support for the affected families.

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