Transformers and Rectifiers (India) lost 3.28% to Rs 56 at 14:50 IST on BSE after the company said that the production at its Changodar Plant is currently disrupted due to two accidents and is expected to recommence in next one or two days only.
The announcement was made on Saturday, 28 September 2013.
Meanwhile, the S&P BSE Sensex was down 214.16 points or 1.09% at 19,513.11.
On BSE, 2,552 shares were traded in the counter as against average daily volume of 4,246 shares in the past one quarter.
The stock hit a low of Rs 55.55 so far during the day, which is a record low for the counter. The stock hit a high of Rs 57.95 so far during the day. The stock had hit a 52-week high of Rs 156.81 on 10 October 2012.
The stock had underperformed the market over the past one month till 27 September 2013, sliding 7.95% compared with the Sensex's 9.79% rise. The scrip had also underperformed the market in the past one quarter, declining 18.28% as against Sensex's 4.51% rise.
The small-cap power equipment maker has equity capital of Rs 13.26 crore. Face value per share is Rs 10.
Transformers and Rectifiers (India) (TRIL) said that due to heavy rains on 25 September 2013, there was a heavy water logging in the company's Changodar plant. The company said it has immediately started the process of water evacuation and this process is expected to be completed within next one or two days. However, the company is yet to ascertain the exact quantum of loss owing to this flooding incident.
On 27 September 2013, a minor fire erupted in a small section of the Changodar plant and the said fire was put off immediately thereafter within a period of 4 or 5 hours. However, the company said that it is in the process of ascertaining the loss due to this fire.
TRIL said that due to the combined impact of the above two incidents the production at Changodar Plant is currently disrupted and is expected to recommence in next one or two days only. The company said it does not expect any major loss due to the above incidents. Further, the plant is fully insured against the above calamities, it added. Further the company note that there is no injury reported to any person due to the above incidents, it said.
TRIL reported net loss of Rs 8.93 crore in Q1 June 2013, as against net profit of Rs 0.72 crore in Q1 June 2012. Net sales fell 1.6% to Rs 83.04 crore in Q1 June 2013 over Q1 June 2012.
Incorporated in 1994, Transformers & Rectifiers (India) has consolidated its position in the Indian transformer industry as a manufacturer of a wide range of transformers, which conform to the quality expectations of both the domestic and the international market. The company has executed a number of prestigious orders from developed countries such as Canada and the United Kingdom.
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