GHCL Textiles Reports Estimated Rs 27 Crore Loss in Warehouse Fire near Tuticorin Port
GHCL Textiles Limited (Formerly Sree Meenakshi Mills) has provided an update regarding a fire incident that occurred at one of its warehouses located near Tuticorin Port. Preliminary internal estimations and the ongoing insurance survey indicate that the quantum of loss or damage to stock is approximately Rs 27 Crores.The company confirmed that there were no human casualties or injuries reported during the incident. Furthermore, GHCL Textiles stated that this event has caused no impact on the production or ongoing operations of the Company.
Both the warehouse structure and the inventory at the affected location are adequately insured. The company initiated the necessary insurance claims process, and further updates will be provided as the assessment finalizes.
The fire incident relates to a warehouse located near Tuticorin Port. Management confirmed that no adverse effect has been observed on the ongoing production processes of GHCL Textiles Limited.
Key details regarding the fire incident are summarized below:
| Particulars | Details |
|---|---|
| Expected quantum of loss/damage caused | Approx. Rs 27 Crores |
| Insurance Status | Yes, The warehouse and stock at the affected warehouse are fully insured and the company has already submitted its claim before the insurance company. |
| Estimated impact on production/operations | Not Applicable. |
GHCLTEXTIL Stock Price Movement
Shares of GHCL Textiles Limited slipped by 2.36% on Wednesday, settling at ₹115.93 in trading activity. The stock saw a traded volume of 298,267 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.