Manpasand Beverages slumps 5% on outlook review for FY21 amid Covid-19

The company expects the outbreak to reflect on its turnover and profitability.

Jun 03, 2020 04:06 IST India Infoline News Service

Manpasand Beverages on Wednesday anticipated their business productivity to be negatively impacted during the Coronavirus pandemic. The company expects the outbreak to reflect on its turnover and profitability. A detailed discussion was released by the company.

The company's manufacturing operations are yet to commence.

In a filing to exchange, Manpasand says, "We anticipate our productivity will be negatively impacted by the cumulative effect of this outbreak. Potential impacts may include but are not limited to, labour shortages due to migration or quarantine as well as material shortages and significant delays in lead times as a result of factories closing across the globe. At this time, it is not possible to quantify the delay or compute the impact costs."

For FY21, Manpasand adds, "The financial effect of Covid-19 will surely be reflected in the turnover and profitability of the company, but the level of the same cannot be ascertained now."

"We reiterate that the expected future impact of Covid-19 on the business of the company is not ascertainable at this stage and the company will inform the Stock Exchange about further development at an appropriate time."

On Sensex, Manpasand stock price ended at Rs5.18 per piece down 5%.

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