Synopsis:
Gujarat Fluorochemicals’ Ranjit Nagar Plant experienced a gas leak, resulting in one death and 13 hospitalisations. Operations are paused, investigations are underway, and losses are covered under IAR insurance.
During Thursday’s trading session, shares of a leading chemical company in India and a leading global manufacturer of fluorine-based products slumped nearly 4.5 percent on BSE, following a toxic gas leak at India’s largest refrigerant facility, resulting in one death and 13 injuries.
At 02:56 p.m., the shares of Gujarat Fluorochemicals Limited were trading in the red at Rs. 3,628.9 on BSE, down by around 3 percent, as against its previous closing price of Rs. 3,744.6, with a market cap of Rs. 39,863 crores. The stock has delivered negative returns of over 10 percent in the last one year, but has gained by around 6 percent in the last one month.
What’s the News
According to the latest exchange filings, Gujarat Fluorochemicals Limited reported an incident at its Ranjit Nagar Plant, which manufactures R-22 refrigerant, commonly used in air conditioning systems, where a minor rupture at one of the bellows in the gas pipeline resulted in a temporary gas leak. The plant’s safety systems responded immediately, with sprinklers activated, the DSC control system halting operations safely, and all personnel in the affected area evacuated without delay.
However, one person lost their life, while 13 others remain hospitalised following the gas leak at the facility. The company has initiated a thorough investigation and reaffirmed its commitment to maintaining the highest safety standards across all operations.
GFL is working towards resuming operations at the Ranjit Nagar Plant after ensuring compliance with all statutory requirements. Any business losses resulting from the temporary production disruption are covered under the company’s Industrial All Risks (IAR) Insurance Policy.
The Ranjit Nagar facility, located in Gujarat, is the largest refrigerant capacity in India that produces specialty chemicals and refrigerants.
Financials & more
In Q1 FY26, Gujarat Fluorochemicals reported a consolidated revenue from operations of Rs. 1,281 crores, a marginal growth of around 5 percent QoQ and 9 percent YoY.
Similarly, the company’s net profit for the quarter stood at Rs. 184 crores, representing a drop of nearly 4 percent QoQ but a significant rise of around 70 percent YoY.
For FY26, the total capex is projected at Rs. 1,600 crores, reflecting a 42 percent growth over the previous year, with Rs. 400 crores allocated to GFL and Rs. 1,200 crores for the EV business.
Gujarat Fluorochemicals Limited, a key entity within the INOXGFL Group, is engaged in the business of manufacturing bulk chemicals, fluorochemicals, fluoropolymers, battery chemicals and allied activities.
The company’s diverse offerings encompass fluoropolymers such as PTFE, PVDF, and FKM, in addition to fluoro-specialty chemicals, refrigerants, and industrial chemicals. These products serve a wide array of industries, including pharmaceuticals, agrochemicals, and automotive.
Written by Shivani Singh
