Signet Industries expects adverse impact due to Covid-19

After closing operations from last week of March, the manufacturing operations of the company started from April 28, 2020.

Jun 30, 2020 04:06 IST India Infoline News Service

Signet Industries Limited informed the exchanges Tuesday that during the lockdown months, the revenues, resources and profitability of the company is adversely affected and it is closely monitoring it and taking every possible steps to manage this situation.

The liquidity position of the company is also affected due to lockdown, but company is able to maintain its operations. It has taken adhoc and moratorium benefits for some credit facility as announced by RBl, and the company is regularly paying its debts as per due dates.  There is no impact on assets of the company.

Supply chain is affected due to the constraints in raw material and easy transportation and migration of labours due to Covid-l9. The demand was affected due to Covid-I9 pandemic.

After closing operations from last week of March, the manufacturing operations of the company started from April 28, 2020 according guidelines issued by the Government.

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