The company said, both production/sales quantities are significantly lower during the current quarter by about one third of the average of the preceding Jan-Mar 2021 quarter. While during second half of June 2021 onwards, lockdown has been lifted partially in several parts of the Country, our sales/production during Q1 of the Current Fiscal will still not be lower.
“During FY21, due to major Covid-19 induced-lockdown in April-June 2020, i.e. during Q1, we were badly affected in terms of production, sales and profitability. From the second quarter Q2, a gradual improvement was observed. However, during the second half of 2020-21, there was smart recovery in demand, which resulted in much better and higher production and sales-volume.
Despite the big hit during the first half of FY21, the overall production and sales for the full year 2020-21 was marginally lower than the preceding year FY20,” company said in a filing.
At around 2.35 pm, Precision Wires India Ltd was trading at Rs232.15 per piece down by Rs3.5 or 1.49% from its previous closing of Rs235.65 per piece on the BSE.