SRF Ltd today said it has claimed Rs 80 crore as damage from the insurance company for its Manali plant due to recent floods and rains in Tamil Nadu.
The company said the plant is returning to normalcy and approximately 50 per cent of it is operational. But the polymerization process is expected to commence by March 2016.
At that time the production is expected to be back at normal levels.
"An estimate of the likely damage amounting Rs 80 crore has been filed with the insurance company. The insurance company has not released any payment against the said estimate of the damage," SRF Ltd said in a regulatory filing.
The estimated financial loss till January end is expected to be Rs 18-20 crore.
The company has 9 manufacturing plants in India, 2 in Thailand and 2 in South Africa.
