Gujarat Fluorochemicals slides after reporting gas leak incident at Gujarat facility

Gujarat Fluorochemicals slipped 3.50% to Rs 4,242.45 after the company reported an incident at its CMS-1 plant in Dahej, Gujarat, on December 28, 2024, which was immediately isolated but temporarily disrupted operation.

Tragically, the incident resulted in the loss of four lives, including one employee and three contractual workers.

In response, the company has taken immediate steps to support the bereaved families, offering each family an ex-gratia amount of Rs 30 lakh, along with the full settlement of statutory dues, insurance benefits, and pending salaries.

Additionally, to ensure the future of the deceased employee's family, the firm is offering employment to the employees ward and sponsoring their education, including a degree in engineering.

 

The company has also expressed its commitment to addressing the needs of all affected families with personalized support and has been in close contact with them to provide necessary assistance during this time of personal loss and distress.

The incident occurred on 28 December 2024, around 8 pm, and was immediately detected and contained by the team. However, individuals in the windward direction experienced adverse health effects and were promptly given primary treatment at the onsite Occupational Health Center (OHC) before being referred to Bharuch Hospital for advanced medical care. Unfortunately, despite all efforts, the four individuals succumbed to their complications.

The company stated that the safety and well-being of its employees and the surrounding community are central to its operations. It was reported that a comprehensive investigation has been initiated to determine the root cause of the incident.

The team is collaborating closely with authorities, and the company is fully committed to implementing corrective and preventive measures to prevent any recurrence. It was also emphasized that the company remains dedicated to supporting the affected families and prioritizing the well-being of its workforce.

Gujarat Fluorochemicals (GFL) is the flagship company of Inox Group. The company has evolved to being largest producer of chloromethanes, refrigerants and polytetrafluroethylene in India.

The companys consolidated net profit surged 128.3% to Rs 121 crore in Q2 FY25 as against Rs 53 crore posted in Q2 FY24. Revenue from operations jumped 25.4% YoY to Rs 1,188 in the quarter ended 30 September 2024.

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