Baazar Style Retail settles fire insurance claim for ₹23 Cr

Baazar Style Retail Ltd announced the settlement of an insurance claim for a fire incident that occurred on May 20, 2024, at its erstwhile central warehouse. The fire resulted in a significant loss of inventory valued at ₹50.85 Crores. Bajaj Allianz General Insurance Co. Limited has completed its assessment and settled the claim for ₹23.00 Crores, which the company has accepted and will receive in due course. The company had previously recognized a receivable of ₹43.65 Crores for FY 2025 against this loss. Despite the incident, the company experienced minimal disruption, having successfully shifted its entire operation to a new state-of-the-art warehouse facility which became fully operational within a month of the accident, ensuring a smooth transition across the supply chain.