| Nava announced that there has been an accidental damage in the raw material handling system, thereby affecting the raw material feeding system and other supporting infrastructure. There were no human injuries or casualties due to this accident. The Company has
insurance coverage in place for material damage and business interruption.
Consequent to the failure of raw material feeding infrastructure, the production of Silico Manganese in the Odisha Works has been temporarily ceased. Currently, Odisha Ferro Alloys Plant is producing about 4,000 MT of Silico Manganese per month. Consequent to this accident,
captive consumption of power of about 20 MW from our Captive Power Plant at Odisha Unit has also been affected. The Company estimates that full resumption of production and captive consumption of power at our Odisha Works will require about two (2) months.
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