Nahar Poly Films faces insignificant impact due to Covid-19

The company is in the business of flexible packaging which comes under the 'essential items and was allowed to resume operations in the lockdown.

Jul 15, 2020 04:07 IST India Infoline News Service

Analysis Finance Market
Nahar Poly Films Limited informed the exchanges Wednesday that the Covid-19 pandemic followed by the nation-wide lockdown announced by the Government has not significantly impacted the normal business operations.

The company is in the business of flexible packaging and the same is used in the food industry which comes under the 'essential items. Therefore, the company was allowed by the Government, to resume operations in the lockdown.

The situation is unpredictable and fast-changing and it is difficult to assess how the future impact of Covid-19 on business operations. The management is making continuous efforts to minimise the impact of Covid-19 for the financial year 2020-21.

The company is confident in the underlying strength of its business model, and that its medium term liquidity needs are well covered. The company continues to enjoy a comfortable net cash position. With adequate funds in place, the company is comfortable to fulfil its financial obligations.

The company has the ability to service debt and other financing arrangements as per agreements with respective lenders and vendors.

The company had temporarily closed its operations from March 23, 2020 to prevent the spread of Novel Coronavirus ("Covid-19"). The company restarted its operations after getting necessary permissions from concerned authorities and subject to the fulfilment of certain conditions, in the second week of April, 2020.

In-line with the Government's safety and security norms for Covid-19, the company's offices and factories are now operational. The company has taken steps to ensure adequacy of financial resources and presently, Company has adequate capital and financial resources to run its business.

Nahar Polyfilms trade ended at Rs59.30 up by Rs0.25 or 0.42% from its previous closing of Rs59.05 on the BSE.

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