IOL Chemicals reports minor fire incident at Minoxidil manufacturing unit in Punjab

The company stated that no injuries were reported to any employee or personnel, and no significant damage to plant, equipment, or property was observed. The incident was brought under control by the site emergency response team in line with the Onsite Emergency Management Plan.

Operations at Unit-9B are expected to remain temporarily suspended for approximately 8–10 days to allow inspection, assessment, and restoration work. Other manufacturing units and plants remain unaffected and continue normal operations.

Also Read: IOL Chemicals Q3 Results: Net profit flat, revenue up 11%; declares interim dividend

The company said a detailed investigation is underway to determine the root cause and identify corrective and preventive actions. The incident was confined to Unit-9B and did not impact overall manufacturing operations.

IOL Chemicals added that its assets are covered under insurance policies, and any insurable loss, if any, is being assessed in line with applicable coverage. The fire occurred at the company’s manufacturing facility at Village Fatehgarh Channa, Mansa Road, Barnala–148101, Punjab.

Fourth Quarter Results

Its net profit came in at ₹53.2 crore, up 69.2% from the previous year’s ₹31.4 crore. Its revenue increased 17.4% to ₹620 crore from ₹527.8 crore last year. The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) increased 47.3% to ₹92.5 crore from ₹63 crore in the March quarter last year. EBITDA margins expanded to 14.9% from 11.9% in the year-ago period.

Also Read: IOL Chem Q2 Results | Net profit jumps 56%, revenue up 8%, margins improve

The company’s board on Wednesday also approved the installation of a plant to manufacture a new product,’triacetin’ and enhance the installed capacity of pantoprazole. Triacentin is a clear, colourless and slightly viscous oily liquid with diversified applications across the food, pharma, cosmetic and industrial sectors, the company said.

Shares of IOL Chemicals and Pharmaceuticals Ltd ended at ₹129.95, down by ₹2.95, or 2.22%, on the BSE.