Gokak Textiles Ltd — Updates, 16-05-2025: Company Update

Gokak Textiles has announced a board meeting on the financial results for the quarter and half-year. The company’s 25 MVA transformer at its solar power plant in Gokak failed due to a heavy lightning strike and subsequent grid failure. While one transformer was successfully tested and restarted, the second showed internal winding damage requiring factory repair. The incident has impacted half of the plant’s 40 MW capacity. The company is assessing the loss but confirms the damage is covered by insurance, including policies for material damage and business interruption. Efforts are underway to restore normal operations swiftly.