Jalgaon, Dec. 11 - Yesterday around 7.35 p.m. in evening a major fire broke out in Plastic Pipe Stocking Yard of the Company situated in Bambhori, Jalgaon in state of Maharashtra. Emergency response measures were activated immediately. Efforts were supervised by top management including Chairman and executive directors as well as senior managers of the Company.

Quick efforts ensured that lives were not at risk at any point of time and fire was contained within 3 acre area in a factory campus of approx. 120 acres. Intense fire was controlled with unabated efforts of fireman and Company associates who worked tirelessly to remove remaining pipes in surrounding area so as to contain the fire in limited space. Fire came under control around midnight.

It took more than 16 fire tenders as well as other efforts such as use of sand to control the fire. Fire tenders came from 30 KM radius from different towns as well as industries. Company�s own 3 fire tenders and 2 water tankers were pushed into service. Fire hydrant system around the entire facility was used to provide extra supply of water for fire fighting purposes. Eventually, with usage of liquid foam fire tenders, fire was brought under control.

Containment of this major fire in short period of time without significant damage to life or property was result of preparedness, massive mobilisation effort in short period of time of emergency measures, availability of fire fighting equipment in short period of time and heroic spontaneous efforts of various individuals at the site.

During this period all the manufacturing in this facility was shut down as precautionary measure. Since then all plants have started functioning as per schedule. There was no damage to any of plant & equipment. Cause of fire is not known as of now and investigation are under way with help of experts to ascertain the cause so as to avoid recurrence in future.

The fire has resulted in loss or damage of certain quantity of finished pipes. Total value of damage is being ascertained. All stocks of the Company are covered under appropriate insurance and all risks policy. This fire and consequent damage is not expected to have any material adverse impact on Company�s operations and financials.

Company wishes to convey it�s heartfelt thanks to brave efforts of all firemen, helpful locals from nearby villages, various local authorities [Jalgaon, Dharangaon, Erandol, Bhusawal, Faizpur, Chopda, Pachora, Amalner Municipal Corporations], Revenue & Police Department, North Maharashtra University, Deepnagar Thermal Power Station, Bhusawal & Varangaon Ordinance Factories, Bhusawal RPD and nearby industries [Bosch, Marico & Supreme], well wishers from Jalgaon city as well as its own associates who helped during this crisis.