Aurobindo Pharma share price falls over 3% after fire incident at its manufacturing facility in Andhra Pradesh

Aurobindo Pharma share price declined over 3% on Tuesday after the company reported a fire incident at one of its manufacturing facilities in Andhra Pradesh that resulted in certain ancillary equipment. Aurobindo Pharma shares dropped as much as 3.43% to ₹1,203.90 apiece on the BSE.

Aurobindo Pharma said that on April 27, at approximately 10:00 PM (IST), a fire incident occurred in the vicinity of the coal crusher area at its Penicillin-G manufacturing facility located in Kakinada SEZ, Andhra Pradesh.

“The incident resulted in damage to certain ancillary equipment, with no impact to the core manufacturing infrastructure. Importantly, there were no injuries reported. The incident is not expected to have a material impact on the operations or financials of the group,” Aurobindo Pharma said in a release on April 28.

The company added that a thorough assessment of the damage is currently underway, and it assured all stakeholders that the facility was fully insured.

“As a precautionary measure and to facilitate necessary equipment replacements, operations at the plant will be temporarily paused for an estimated period of 20 to 25 days. We remain committed to resuming full operations at the earliest while maintaining the highest safety and quality standards,” Aurobindo Pharma said.

Aurobindo Pharma Share Price Trend

Aurobindo Pharma share price has gained 4% in one month, but the stock has dropped nearly 10% on a year-to-date (YTD) basis. In the past one year, Aurobindo Pharma shares gained 5%, while the stock is up by a staggering 92% in three years.

At 10:40 AM, Aurobindo Pharma share price was trading 3.12% lower at ₹1,207.90 apiece on the BSE, commanding a market capitalisation of more than ₹70,085 crore.

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