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An update from Exxaro Tiles Ltd. ( (IN:EXXARO) ) is now available.
Exxaro Tiles disclosed that its gas supplier, Sabarmati Gas Limited, has imposed restrictions on gas supply due to a force majeure event triggered by the ongoing conflict in the Middle East and its ripple effects on global energy markets. The limitation on Daily Contracted Quantity and the use of certain gas at the company’s Talod manufacturing units is expected to cause a temporary and partial impact on production activities.
Management said it is actively exploring alternative fuels and operational measures to keep plants running and, based on current assessments and inventory levels, does not foresee a material impact on overall business operations. The company continues dispatches as usual, considers the financial impact not presently quantifiable but not material, and will monitor developments closely, promising further disclosures if the situation changes significantly for stakeholders.
More about Exxaro Tiles Ltd.
Exxaro Tiles Limited is an Indian manufacturer in the ceramic and vitrified tiles industry, supplying tile products for residential and commercial construction markets. The company operates manufacturing units, including facilities at Talod in Gujarat, and caters to domestic demand while being sensitive to input cost and energy supply dynamics.
Average Trading Volume: 69,446
Technical Sentiment Signal: Strong Sell
Current Market Cap: 3.06B INR
Learn more about EXXARO stock on TipRanks’ Stock Analysis page.