Business Update27 May 2026, 12:30 pm
Aartech Solonics Receives ₹1.84 Cr Fire Insurance Claim
AI Summary
Aartech Solonics Ltd. has received ₹1,84,55,527 from Cholamandalam MS General Insurance Company Limited as a full and final settlement for the fire incident at its Mandideep factory. The fire, which damaged plant & machinery, inventories, and other assets, was assessed by the insurer's surveyor at ₹3,26,60,008. The company had already recognized a loss of ₹1,36,54,993 in its books. Aartech Solonics confirms that the insurance claim substantially mitigates the financial impact and there is no material adverse impact on the company's operations or financial position.
Key Highlights
- Aartech Solonics receives ₹1,84,55,527 from Cholamandalam Insurance for fire damage.
- The insurance claim covers damages to plant, machinery, and inventories at Mandideep factory.
- Total damage assessed at ₹3,26,60,008, with the company booking a loss of ₹1,36,54,993.
- The insurance claim mitigates financial impact; no material adverse effect is expected.
- Operations at the affected manufacturing facility have been restored in a phased manner.
Price Impact
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