Baazar Style Retail Secures Settlement of Insurance Claim for Fire-Affected Inventory
Baazar Style Retail Limited has confirmed the settlement of an insurance claim regarding a significant loss of inventory resulting from a fire incident at its central warehouse. The company accepted the claim amount from Bajaj Allianz General Insurance Co. Limited and stated the funds will be received shortly.The fire incident occurred at the company’s erstwhile central warehouse, located in Sreerampur District, Hooghly, West Bengal, on May 20, 2024. The fire resulted in a significant loss of inventory, which was initially valued at ₹50.85 Crores. During the fiscal year 2025, the company had recognized a receivable amount of ₹43.65 Crores against this loss.
Bajaj Allianz General Insurance Co. Limited completed its assessment and settled the inventory loss claim for an aggregate amount of ₹23.00 Crores. The company accepted this settlement, confirming the amount will be received in due course.
The company provided key details regarding the incident and the claim settlement:
| Particulars | Value / Detail | Notes |
|---|---|---|
| Initial Insurance Claim Amount | ₹50.85 Crores | Loss of inventory from the fire incident. |
| Recognized Receivable (FY 2025) | ₹43.65 Crores | Amount recognized against the loss. |
| Insurer | Bajaj Allianz General Insurance Co. Limited | Completed assessment and settlement. |
| Settlement Amount Received | ₹23.00 Crores | Accepted by the company; expected in due course. |
| Incident Date | May 20, 2024 | Fire occurred at the central warehouse in Hooghly, West Bengal. |
The company noted that while the fire caused substantial damage to the inventory, it experienced minimal disruption to its operations. Baazar Style Retail Limited successfully managed a smooth transition by shifting its entire operation to a new, state-of-the-art warehouse facility, which was fully operational within one month of the accident.
STYLEBAAZA Stock Price Movement
Today, Baazar Style Retail Limited shares edged higher to close at ₹302.4, gaining 2.95% for the session. Trading saw robust activity, with 244,482 shares transacting through the day.Source:
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