According to Orchid managing director K Raghavendra Rao, the fire was a minor one and no injury was caused to anyone. There would also be no financial loss as the company had all the necessary insurance policies in place, including the advance loss of profit policy. The total value insured under this policy comes to Rs 53 crore.

The company has intimated the Madras Stock Exchange about this matter.

The solvent recovery system was used for intermediate products and not for the final products, Rao said. As a result production would not be affected, though there was bound to be some operational inconvenience on account of the fire. It would take two to three weeks for the premises to be set right.

It was too early for an assessment of the exact amount of the damage, nor could one establish the cause yet, Rao said.However, he feels the accident took place because of technical problems which have not yet been fully ascertained. The surveyors have inspected the site and are expected to come out with a detailed report.