V I P Industries announced that on 31 January 2023 at around 3 pm IST, fire occurred at VIP Industries Bangladesh (Subsidiary of the Company) Plant located at Plot No. 74-83, Epz Mongla, Bangladesh. The
Plant manufactures bags and supplies to VIP Industries in India and
contributes ~9.9% of the consolidated revenue of the Company.
The fire was controlled, but production operation of the said plant is temporarily disrupted. There are no human injuries or casualties reported. Adequate steps are being undertaken to restore the operation of the plant. The Company is in the process of ascertaining the cause of the fire and the actual loss caused by it.
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