Furnace breakdown temporarily suspends manufacturing operations
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A furnace malfunction on October 30, 2026 caused molten metal leakage and suspended operations at the Bavla, Gujarat facility. The 16 MW / 30 MT induction furnace suffered damage to its copper coil, critical components and possibly its transformer. No injuries were reported. The factory is insured, but the repair and restart timeline remains uncertain.
Production and sales may remain disrupted. Repair costs, insurance recovery and restart timing are uncertain, creating near-term downside risk for shareholders.