Fire accident at V-Mart store in Kanpur; inventory, fixed assets damaged

V-Mart is one of the listed hypermarket chain operators

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

A fire accident was reported at a store of V-Mart in Uttar Pradesh's Kanpur on January 16, which led to the inventory, cash and fixed assets being damaged, the hypermarket retail chain said in a regulatory filing.

"There was no loss or injury to human life," the company clarified.

V-Mart noted that is in the process of ascertaining the actual financial loss caused due to the fire. The company also stated that operations at its Kanpur store have been disrupted due to the accident.

The fire "has resulted in damage of inventory, fixed assets, cash and others in the store, thereby disrupting the operations of the aforementioned store", it informed the stock exchanges.

V-Mart further said that it has has an "adequate insurance coverage and have already informed the insurance company about the incident".

In fiscal year 2021-22, V-Mart had reported a total revenue of Rs 1,680 crore, which was higher as compared to Rs 1,096.50 crore clocked in the previous year. The company's net profit in FY22 came in at Rs 10.40 crore, as against a loss of Rs 9.66 crore in FY21.

On January 16, the shares of V-Mart closed at Rs 2,791.45 apiece at the BSE, which was 1.61 percent lower as against the previous day's close.