BASF India comfortably placed after resuming operations post lockdown

Due to comfortable liquidity position, the company is servicing its debt and other financial obligations in a timely manner.

Oct 15, 2020 08:10 IST India Infoline News Service

BASF India
BASF India Limited informed the exchanges Wednesday that in general, Covid-19 has impacted businesses across industries and segments including industries to which the company is serving. While Agrochemicals and Nutrition & Care divisions remain less impacted as certain products fall under essential commodities, other segments mainly catering to industries like Automobiles, Construction, Paints, Footwear, White Goods etc., have been impacted due to Covid-19.

Due to comfortable liquidity position, the company is servicing its debt and other financial obligations in a timely manner. The company has sufficient unutilised banking lines to draw down in case of further requirements. The company has been maintaining sufficient liquidity to discharge its obligations and have enough capital and adequate banking limits in place.

The company has gradually re-started its operations across its manufacturing sites, warehouses and offices. The company has also re-started its operations at Navi Mumbai in line with the Central, State and Municipal Authorities guidelines.

“The company had also put in place the necessary protocols for the safe start-up of operations at its manufacturing sites. The company intends to follow a phase wise ramp-up approach keeping in mind the safety of its employees and in compliance with Government requirements for social distancing. As of now, only critical staff has resumed work at the company’s offices after approval from their respective line managers,” company said.

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