Neogen Chemicals Ltd Receives Rs. 60 Crore Towards Fire Incident Loss from Insurance Company

Neogen Chemicals Ltd has received an additional amount of Rs. 60 Crore towards the third on-account payment for loss of property, plant and equipment from the Insurance Company. The total on-account claim received till date is Rs. 140 Crore. The Company has recognized a loss of Rs. 348.16 Crore due to the fire incident and has received Rs. 3.48 Crore on sale of salvaged scrap. The production of the Multi-Purpose Plant (MPP3)- Facility, the warehouse and tank farms is temporarily suspended due to the fire incident. The Company is shifting production of critical select specialty products to other sites and is constructing a replacement plant with commissioning scheduled for Q1 FY27.