Sitara Peroxide Limited (SPL) Extends Plant Suspension for Another 30 Days, Citing Repairs and Cable Replacement

Sitara Peroxide Limited (SPL) has announced the extension of its plant operations suspension for an additional 30 days. The company initially stopped production in January 2023 and has faced multiple interruptions throughout the year. In February, SPL extended its production suspension for 10 days but resumed operations on February 24. In August, production was halted once more, and on September 8, 2023, the company extended the suspension by another 30 days.

SPL’s decision to prolong the shutdown is attributed to necessary repairs and the replacement of heavy cables. This information was disclosed in accordance with the rules of the Pakistan Stock Exchange (PSX) and relevant securities laws.

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The primary focus of SPL is the manufacturing and sale of hydrogen peroxide. At the time of the announcement, SPL’s stock price on the PSX stood at Rs. 15.7, marking a 6.71% decrease from the previous day, with a turnover of 100,000 shares.

This ongoing suspension has raised concerns among investors, as it affects the company’s production capabilities and, consequently, its financial performance. SPL’s challenges in maintaining consistent operations have led to fluctuations in its stock price, causing uncertainty in the market. The company’s efforts to address maintenance issues will likely be closely monitored by investors and stakeholders, with hopes of a smoother operational trajectory in the future.

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