Further to the intimation dated 15th February, 2023 regarding an incident of fire at its manufacturing plant located at C-10/1, MIDC, Akkalkot Road, Solapur, Maharashtra - 413006 and based on inspection and evaluation of the various assets at the plant, GRP has informed that the assessed loss arising on account of damage to stock (Raw material and Finished goods), Plant & Machinery and Building together is approximately Rs 18 crores. This is subject to final quotes to be received for salvage of some materials. The company has adequate insurance cover against the said losses. The company is estimating in addition, impact to operating performance by way of loss of production to the tune of 500 tons until start-up, a revenue loss of Rs 5 crores as a result and a resultant gross margin impact of approximately Rs 1.50 crores.
The above information is a part of company’s filings submitted to BSE.
