Baazar Style Retail Limited has informed the Exchange regarding 'Intimation regarding settlement of insurance claim '.
STYLEBAAZA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
A fire incident at Baazar Style Retail's central warehouse in Hooghly, West Bengal on May 20, 2024 caused inventory loss valued at Rs 50.85 Crores. The company had recognized a receivable of Rs 43.65 Crores during FY 2025. Bajaj Allianz General Insurance has now settled the claim for Rs 23.00 Crores, which the company has accepted. The settlement falls short of both the claimed amount and recognized receivable by about Rs 20.65 Crores, indicating a potential write-off or loss. Operations were minimally disrupted as the company shifted to a new warehouse facility within a month.
The insurance settlement of Rs 23 Crores creates a gap of approximately Rs 20.65 Crores against the recognized receivable, which may require a write-off or impact financials negatively. However, the settled amount will provide some liquidity relief.