Inani Marbles plan to avail WCTL of Rs4.81cr to reduce Covid-19 impact

The company’s operations remained closed from March 23, 2020, to April 21, 2020.

Sep 04, 2020 04:09 IST India Infoline News Service

Inani Marbles and Industries Limited informed the exchanges Friday that the impact of coronavirus on its business will depend on future developments that cannot be reliably predicted including actions to contain or treat the disease and mitigate its impact on the economy mainly global economy.

“With the opening of domestic and international market post lockdown the company expects business to improve in a slow and gradual manner. The company would like to avail Working Capital Term Loan (WCTL) of Rs4.81cr to reduce the impact of Covid-19 on the liquidity position of the company. Supply chain and demand has improved during the current financial year,” company said.

Due to Covid-19 pandemic the company's operations remained closed from March 23, 2020 due to lockdown which has impacted its revenue during the lockdown period. The company resumed its operations gradually from April 21, 2020 to the extent, as permitted by the government regulations.

Inani Marbles & Industries Ltd traded at Rs11.80, down by Rs0.27 or 2.24% from its previous closing of Rs12.07 on the BSE.

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