havells: Insured assets worth Rs 150 crore affected in fire at Neemrana unit: Havells

Assets worth Rs 150 crore, which were fully insured, were affected in the massive fire at its Neemrana-based manufacturing unit, said consumer electrical goods manufacturer . On July 27, a massive fire had broken out at factory at Neemrana in Rajasthan’s Alwar district.

There was no human loss/injury and the entire building, plant and machinery, and inventories at the Neemrana plant were fully insured, said a regulatory update from Havells India.

“The company has now ascertained the book value of the assets affected due to the incident as around Rs 150 crore, which is fully insured,” it said.

Havells’ Neemrana unit is the largest and most automated water heater plant in India.

Established in 2004 and spread over 1,94,249 square metres, Havells also manufactures lighting fixtures, CFLs, HID lamps and motors here.

For the financial year ended on March 31, 2022, Havells India’s revenue was at Rs 13,888.53 crore.