The company’s capital and Banking facilities remain intact. It has sufficient Banking limits, cash and cash equivalents. There are no liquidity concerns. However, the company is witnessing delay in the receivable collection from customers due to an exceptional situation. The company is regularly following up with customers for recovery of receivables and does not feel that there would be bad debts.
The company's trade on Wednesday ended at Rs227.00 down Rs12.55 or 5.24% from its previous closing of Rs239.55 on the BSE.
Following Government directives of lockdown, the company's manufacturing facilities for various divisions were shut from March 22, 2020. The company obtained permissions to gradually re-start the operations on various dates and also assessed the situation on the ground and re-started the operations gradually.
Since re-opening of our plants, the company has successfully been ramping up capacity across various plants. The company did not re-start one of the Units of Grey Yarn manufacturing however other Units of Yarn had re-started. Similarly the company also did not re-start the Captive Power Plant which supplied power so generated to its various manufacturing units, in view of lower requirement of power and power is now being taken by these manufacturing units from State Grid.
The company has sufficient raw materials and therefore has witnessed no disruption in manufacturing on account of lack of availability of raw materials.