Neogen Chemicals Accepts ₹152 Cr Insurance Claim

Neogen Chemicals has accepted an additional insurance claim amount of ₹152.00 crore as a part payment for a fire incident. The total on-account claim received or receivable, including this acceptance and sale of salvage scrap, now stands at ₹316.49 crore. The company has recognized a total loss of ₹348.16 crore (₹362.90 crore consolidated) on property, plant, equipment, and inventory. An insurance claim receivable of ₹334.60 crore (₹348.82 crore consolidated) has been recognized. Production at affected plants is temporarily suspended, but replacement construction is underway, and critical product manufacturing has been shifted to other sites to minimize business disruption. Further settlement will be determined in stages.