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Tata Global Beverages said on Friday a fire broke out at its instant tea unit at Munnar in Kerala damaging raw materials and warehouse building.
“There has been an incident of fire in the early hours on March 11, 2011 at the company’s instant tea unit in Munnar...there has been damage to raw material stocks and warehouse building which is being assessed,” the company said in a filing to the Bombay Stock Exchange.
The financial loss is not expected to be material and company has adequate insurance cover. There has been no loss of life or damage to process machinery, it added.
Tata Global has tea brands such as Tetley and Tata Tea in its portfolio besides coffee and packaged water labels.
For the fiscal ended March 31, 2010 the company had posted revenues of Rs 1,715.61 crore and net profit of Rs 391.47 crore.
The company’s scrips closed at Rs 101.30 per share on the Bombay Stock Exchange, up 4.97 per cent from the previous close. The announcement on fire incident came after the market hours.
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