The deadly inferno and the smoke has not only claimed 91 lives at Dhakuria AMRI Hospital in the city, but uncertainity looms over the future of the two promoter groups, Emami and Shrachi, after seven of its board members were arrested.
The AMRI Hospitals Ltd, which was planning to invest about Rs 2,000 crore in the healthcare sector has put on hold all its expansion plans. “We have put all our investment plans on hold now,” said an official source close to the developments.
The group had plans to set up seven hospitals across the East and North East with an investment of about Rs 1,750 crore, while for addition of beds in the existing hospitals it was planning to in Rs 300 crore. In West Bengal itself, the group was planning to set up a 500-bed hospital at Rajarhat, 200-bed hospital at Burdwan and two 300-bed hospitals at Siliguri and North Kolkata.
However, the losses are yet to be quantified. “It is in crores and yet to be quantified. Right now we are in a state of confusion,” the source added. Meanwhile, National Insurance officials inspected the Dhakuria hospital today. AMRI Dhakuria has a Rs 55 crore property insurance cover from National Insurance — including fire and earthquake insurance.
While Emami has a 66 per cent stake in AMRI, Shrachi has 32 per cent and the state government holds two per cent stake. The firm’s board has a government nominee too Soumendra Nath Banerjee, who is currently the chairman.
However, analysts believe that there will not be a long-term impact on Emami Ltd. “Since the directors are held, there might be a sentimental impact in markets as far as Emami is concerned. Though it will have a huge impact on AMRI expansion plans, Emami expansion is unlikely to face the heat,” said Kaustubh Pawaskar, FMCG analyst at brokerage firm Sharekhan. Emami’s stocks were down 1.89 per cent on the Bombay Stock Exchange to Rs 392.35 on Friday
Meanwhile, for the Rs 800 crore Shrachi group of companies, based out of Kolkata and involved in agro-machinery, engineering, real estate, information technology and medical services businesses, may find it difficult to get out of the present crisis. The group also has investments in Bengal Shrachi Housing Development Ltd, in which the West Bengal Housing Board is also a partner.
