Neogen Chemicals Limited has informed the Exchange about General Updates- Update on Fire Incident
NEOGEN · price
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Neogen Chemicals has received Rs. 50 crore as an interim insurance payment for the fire that damaged its Multi-Purpose Plant (MPP3), warehouse, and tank farms at the Dahej SEZ facility on March 5, 2025. The company has recognized a total loss of Rs. 348.16 crore (standalone) / Rs. 362.90 crore (consolidated) due to damage to property, plant & equipment, inventory, and incident-related costs, against which it has booked an insurance claim receivable of Rs. 334.60 crore (standalone) / Rs. 348.82 crore (consolidated), resulting in a net loss of Rs. 13.56 crore (standalone). Production at the affected plant remains suspended, with reconstruction and restart estimated to take 9–12 months. The company has shifted critical specialty products to other sites and is continuing its planned Patancheru expansion to limit earnings disruption, and has confirmed no change to its earlier revenue guidance.
The Rs. 50 crore interim payout provides near-term liquidity relief, but the 9–12 month production shutdown at a key facility could weigh on near-term volumes and margins, even though the company expects minimal overall earnings impact. Shareholders should watch for the final insurance settlement (loss of profit and reinstatement value still pending) and progress on plant reconstruction.