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HomeMarket NewsPG Electroplast shares fall 7% after management says production impacted due to gas shortage
The US-Iran war in West Asia has impacted Gas production operations in Qatar, one of the biggest LNG producer in the world, forcing it to declare a Force Majeure to its clients, and has subsequently had a trickle down effect on other companies that use gas as an important component.
Shares of PG Electroplast Ltd. fell up to 7% on Friday, March 13, after the company's management acknowledged that production operations have been impacted due to the shortage of gas supply owing to the US-Iran war.
In an interaction with CNBC-TV18, Vikas Gupta, the Managing Director of operations at PG Electroplast, said that one week of production has been lost across the company's AC manufacturing plants due to the gas shortage.
Gupta went on to add that the company's financial year 2026 revenue guidance may be affected due to this shortage of gas supply, although he did not specify by how much.
The US-Iran war in West Asia has impacted Gas production operations in Qatar, one of the biggest LNG producer in the world, forcing it to declare a Force Majeure to its clients, and has subsequently had a trickle down effect on other companies that use gas as an important component.
Gupta said that the LPG is used in plants for bracing and welding of Copper tubes and that the company is exploring alternatives to LPG. He went on to add that polymer availability and a 40% to 50% surge in prices are a cause of concern.
Shares of PG Electroplast are trading 6.8% lower currently at ₹498.75. The stock is down 18% in the last one month.
