IOL Chemicals and Pharmaceuticals Limited (IOLCP) reported a minor gas leakage incident at its factory premises in Village Fatehgarh Channa, Mansa Road, District Barnala, Punjab, on April 27, 2025. The company made the disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The incident occurred in a single reactor within one of the plant's units. Fortunately, the gas leakage was contained to a limited area and was promptly brought under control. However, despite the company's swift response, the incident led to injuries to four individuals working at the site. These individuals were immediately taken to the hospital for treatment.

Regrettably, one of the injured individuals has succumbed to his injuries, while the other three are undergoing medical care. Of the three, one individual has been discharged, and the remaining two are under medical observation. The company expressed its heartfelt condolences to the bereaved family and has assured the public that it is providing full support and the best possible medical care for the injured personnel.

In response to the incident, IOL Chemicals has reported the matter to all relevant statutory authorities, and investigations are currently underway to determine the cause of the leak and ensure all safety protocols are being followed. Despite the severity of the incident, the company emphasized that there has been no impact on operations, and production activities have continued without disruption.

As per the requirements of SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023, IOL Chemicals provided further details in Annexure-A, summarizing the extent of damage, the involvement of insurance, and the impact on production. The company confirmed that the incident had no operational loss, and the damage was primarily related to the loss of life rather than any disruption in plant operations.

IOL Chemicals also assured that the necessary insurance coverage was in place, and the company will continue to monitor the situation closely. The management expressed profound sorrow over the loss of life and reiterated its commitment to the safety and well-being of all its employees.

Here are the specific details from Annexure-A:

1. Expected Quantum of Loss/Damage: The loss is primarily the tragic loss of life of one individual. There is no operational loss reported.

2. Insurance Coverage: Yes, the incident is covered by insurance.

3. Impact on Production/Operations: No impact on production or operations has been observed.

4. Factory/Unit Impact: The incident was limited to a single reactor and has not affected broader operations.

The company has vowed to take all necessary steps to enhance safety measures and prevent such incidents from occurring in the future.

This incident has been handled with full compliance to regulatory requirements, and further updates will be provided as investigations continue and more information becomes available.

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