I had mailed same concern to the company before 5 days but sadly didn’t got any reply.
Sheetal Cool Products intimates of fire in Namkeen Division at Amreli plant - This shall not have much impact on September 2018 results given the small size of their snacks division.
HY 18 -19 financial result of SCPL
The profits for H12019 has been dented because of exceptional item (4.3 Crores) due to fire. Earlier they said there will not be much impact, then how come it had significant fall in Net Profit?
- Are the plants not insured to provide cover?
- Is this a matter of promoters using an excuse for some other cover up?
Any insights or views on above will be helpful.
Discl. Invested from IPO
Hi Raj. I can understand following points due to impact of fire.
- The loss due to fire shall be complete loss of machinery and other material probably packaging, raw materials, input etc.
- Plants must be insured but the same shall be shown in statements once the claim is approved and credited.
Discl: Personal Views. Not SEBI reg RA. Have not invested till. But Doing research to understand company more in detail