Disruption17 Jul 2026, 04:09 pm
Neogen Chemicals Receives ₹15 Cr Insurance Payout for Fire Incident
AI Summary
Neogen Chemicals Ltd has received an additional ₹15 Crore as a fourth on-account payment from its insurance company for the fire incident at its Dahej SEZ facility on March 5, 2025. This brings the total on-account claim received to ₹155 Crore. The company recognized a loss of ₹348.16 Crore (consolidated ₹362.90 Crore) and an insurance claim receivable of ₹334.60 Crore (consolidated ₹348.82 Crore). Production at the affected MPP3 plant is temporarily suspended, with replacement construction progressing for H1FY27 commissioning. Critical specialty products are being shifted to other sites to minimize business disruption.
Key Highlights
- Received ₹15 Cr additional insurance payment for fire incident.
- Total on-account insurance claim received now stands at ₹155 Crore.
- Recognized loss of ₹348.16 Cr; insurance claim receivable ₹334.60 Cr.
- Replacement plant construction for MPP3 facility progressing.
- Production shifted to other sites to mitigate business impact.
Price Impact
More from NEOGEN