Greenpanel Industries Ltd has informed that due to delay in import of component of refiner from Sweden, the estimated time for repair of refiner, as informed earlier, has been extended. The normal operation of MDF Plant at Rudrapur is expected to be resumed by December 16, 2021.
As per regulatory filings, value of the parts to be replaced, estimated by us at Rs2cr plus duties, taxes and service charges. The company has already intimated the lnsurance Company regarding the breakdown. lnsurance claim shall be lodged with the lnsurance Company post reinstatement of component and ascertaining the actual loss.
Due to suspension of operations at the plant, the company will incur losses, an estimate of which can be done only post receipt of report from the Vendor's engineer.
The Company has an insurance policy which covers loss of profits beyond 14 days from the date of breakdown. It is estimated that the company will incur losses of Rs4cr on account of fixed overheads during this period which will not be covered by insurance, said company on Monday.
At around 1:32 PM, Greenpanel Industries was trading at Rs389.65 per piece higher by 0.37% on the BSE.