Disruption17 Jul 2026, 04:11 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 total 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 facility remains temporarily suspended, with replacement plant commissioning scheduled for H1FY27. Critical specialty products are being shifted to other sites to minimize business disruption.
Key Highlights
- Received additional ₹15 Cr insurance payment, total ₹155 Cr received to date.
- Total recognized loss stands at ₹348.16 Cr; insurance claim receivable at ₹334.60 Cr.
- Replacement plant for Dahej facility to be commissioned by H1FY27.
- Production shifted to other sites to mitigate business impact.
- Fire incident occurred at Dahej SEZ facility on March 5, 2025.
Price Impact
More from NEOGEN