SRF seeks Rs 80-cr insurance claim for Manali plant damage

Image
Press Trust of India New Delhi
Last Updated : Feb 09 2016 | 10:22 PM IST
SRF Ltd today said it has claimed Rs 80 crore as damage from the insurance company for its Manali plant due to recent floods and rains in Tamil Nadu.
The company said the plant is returning to normalcy and approximately 50 per cent of it is operational. But the polymerization process is expected to commence by March 2016.
At that time the production is expected to be back at normal levels.
"An estimate of the likely damage amounting Rs 80 crore has been filed with the insurance company. The insurance company has not released any payment against the said estimate of the damage," SRF Ltd said in a regulatory filing.
The estimated financial loss till January end is expected to be Rs 18-20 crore.
The company has 9 manufacturing plants in India, 2 in Thailand and 2 in South Africa.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Feb 09 2016 | 10:22 PM IST

Next Story