Apollo Sindoori Hotels confident to challenge current situations

Many company’s businesses operated even during lockdown to minimize impact of Covid-19.

Jul 21, 2020 08:07 IST India Infoline News Service

Apollo Sindoori Hotels Limited (ASHL) informed the exchanges Monday that there will be an impact on profitability of the company. The resources will get stretched due to increased requirement of working capital. The company has enough liquidity to manage the current situation at this time. It's a debt free company.

ASHL's majority business ie 90% is depend on healthcare industry, where the only industry is operated during lockdown, without any shutdown (with minimal business or more). So company remains very confident in challenging the current situations.

The company closed the factories during lockdown in compliance with various government directives and subsequent to receipt of permissions from the authorities, the company resumed operations in a phased manner by focusing on the safety and well-being of all stakeholders. Many workers are still working from home. It will take time for the business to reach the relock down level.

The operations across PAN India have witnessed improvements post easing of lockdown restrictions.

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