Berger Paints says employee dies in fire accident

Berger Paints on Friday, 10 June 2022, informed that one of the contractual employees, who was in a critical condition due to the fire incident occurred at the Howrah factory, passed away.

The paints maker added that of the 23 employees, who have been receiving medical attention, 17 are out of danger and most of them are expected to be released soon.

The fire broke out at the company's Howrah factory on Wednesday, 8 June 2022, at around 2.20 pm affecting the exit gate and the raw material handling area. The production area remained completely unaffected. The fire was initially contained by the efforts of the team and was brought under complete control by the fire brigade. The reason for the occurrence is under investigation. However, preliminary investigation pointed towards electrical short circuit in an AC unit, the company said in a statement.

The operations of the factory are temporarily stopped and expected to resume in a couple of days, the company added.

Meanwhile, in a separate filing the company said that the loss is estimated between Rs 75 lakh to Rs 1 crore. However, the loss was fully recovered by insurance as the total sum assured for the Howrah factory was Rs 218 crore.

Berger Paints India is engaged in retail, decorative and industrial painting solutions. On consolidated basis, the company reported a 5.8% rise in net profit to Rs 220.66 crore on 8% increase in net sales to Rs 2,187.51 crore in Q4 FY22 over Q4 FY21.

Shares of Berger Paints were up 0.09% at Rs 581.30 on the BSE.

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