News: Hikal’s manufacturing operations at MIDC Taloja facility has been shut. Hikal is undertaking scheduled maintenance activities at the plant to minimise the impact of the plant being temporarily closed
Views: Taloja unit contributed ~ Rs. 260 crore (15% of sales in FY21) and Hikal is taking appropriate legal measures to remedy the situation and seek relief against the closure directions. Taloja facility is closed for maintenance activities every year for three to four weeks in April and management has matched the maintenance activity shutdown with closure directions. We believe, any shutdown longer than a month is likely to affect Hikal’s revenues. We keep track on updates and wait for further commentary from management regarding resolution of MPCB closure notice and remediation measures
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