Uniply Industries ends higher despite predicting adverse impact of Covid-19

Due to lockdown from Mid-March - June 2020, the offices and other operations of the company were shutdown.

Jun 25, 2020 03:06 IST India Infoline News Service

Uniply Industries
Uniply Industries Limited informed the exchanges Thursday that the business operation of the company has been disturbed due to Covid-19 Pandemic which will impact the financial position of the company due to closure operations.

Due to lockdown from mid-March-June 2020, the offices and other operations of the company were shutdown. The revenues and profitability of the company are likely to be adversely impacted. Although the company hopes the business situation should normalise during the third and fourth quarter of the financial year.

The company’s small operations have resumed at the sites which are in non-containment zones after complying with all the requirements of Government guidelines including reduced workforce, sanitization of workplace and social distancing.

“Company is involved in construction and trading business. Due to lockdown construction sites were closed and it will have negative impact on the company. Further the various restrictions will have its impact on the working. However, the company has enough resources to overcome the uncertainties,” company said.

Uniply Industries Ltd trade ended at Rs6.26 up by Rs0.11 or 1.79% from its previous closing of Rs6.15 on the BSE.

Related Story