"We are not ruling out any possibility but there is no sabotage as such," he told reporters here.
Fire was contained with timely help from all the concerned persons and only a complete inquiry will reveal its cause, Parrikar said.
It is too early to speculate about the cause, he added.
Parrikar, who visited the injured personnel at the Datta Meghe Medical College and Hospital at Sawangi Meghe in the district, said 130 tonnes of anti-tank mines were destroyed in the fire.
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Parrikar, accompanied by the Army Chief General Dalbir Singh Suhag, spent more than half an hour meeting the injured personnel at the hospital.
At least 16 defence personnel, including two Army officers, were killed in the massive fire that broke out at one of Asia's biggest ammunition depot in Pulgaon which houses the largest stockpile of weapons in the country.
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Parrikar said the 16 defence personnel who died in the mishap prevented a greater disaster with their fire-fighting effort.
When asked about monetary loss caused by the blaze, the minister said the loss of life was more important.
Necessary compensation will be paid to the victims and their kin as per the norms, he said.
To a question whether there was a plan to bifurcate the stock at Pulgaon and create one more depot, Parrikar said it had already been bifurcated.
Earlier, on arrival at Nagpur airport from Delhi, Parrikar and Army Chief Dalbir Singh Suhag flew to the CAD in a chopper and spoke to the Army officials at the site to take a stock of the situation.