Neogen Chemicals Accepts Additional ₹152 Cr Insurance Claim
Neogen Chemicals Ltd has accepted an additional insurance claim amount of ₹152.00 crore as a part payment towards the entire claim receivable following a fire incident. The total on-account claim received/receivable to date, including this acceptance and sale of salvage scrap, amounts to ₹316.49 crore. The company recognized a loss of ₹348.16 crore (₹362.90 crore consolidated) and an insurance claim receivable of ₹334.60 crore (₹348.82 crore consolidated). Production at the affected MPP3 facility, warehouse, and tank farms is temporarily suspended, with replacement plant construction partly completed and trial runs initiated. Critical specialty product production has been shifted to other sites to minimize earnings impact.
Key Highlights
- Neogen Chemicals accepted an additional ₹152 crore insurance claim.
- Total on-account claim received/receivable is now ₹316.49 crore.
- Recognized loss of ₹348.16 crore due to fire incident.
- Production partially resumed at other sites; replacement plant construction ongoing.
- Further settlement depends on final assessment of property, profit loss.
Price Impact
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