Sitara Peroxide Limited has issued a progress report detailing the current status of its operations and financial management as of October 7, 2026. The company has temporarily shut down its plant to mitigate operational losses and is focusing on financial restructuring and modernization efforts.
- The plant shutdown aims to prevent significant operational losses and reduce finance costs.
- Sitara Peroxide has repaid all bank liabilities except for a nominal amount owed to one bank.
- The company is actively pursuing fresh funding through equity and bank borrowings to support Balancing, Modernization, and Replacement (BMR) initiatives.
- Negotiations are ongoing with technology providers and engineering firms to facilitate the resumption of operations.