Neogen Chemicals Limited has informed the Exchange about Disruption of Operations
NEOGEN · price
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Neogen Chemicals has received a second on-account insurance payment of Rs. 30 crore for the fire that broke out at its Multi-Purpose Plant (MPP3), warehouse and tank farms at Dahej SEZ on March 5, 2025. The total on-account insurance claim received so far stands at Rs. 80 crore. The company has recognised a total loss of Rs. 348.16 crore (standalone) / Rs. 362.90 crore (consolidated) due to damage to property, plant & equipment, inventory and incidental charges, with an insurance claim receivable of Rs. 334.60 crore, leaving a net loss of about Rs. 13.56 crore. Production at the affected facility remains suspended, and reconstruction is expected to take 9–12 months. In the interim, the company has shifted production of critical specialty products to other sites and is expanding its Patancheru plant to minimise the impact on earnings. The company has reaffirmed its earlier revenue guidance with no change.
Positive near-term signal as the company continues to receive insurance payouts, reducing the net financial impact of the fire to under Rs. 15 crore. However, the 9–12 month production suspension and ongoing dependence on other sites and expansion plans keep operational uncertainty in play, though management's confidence in maintaining revenue guidance is reassuring for shareholders.