Left Menu
Development News Edition

Kirloskar Electric says uncertainty in operations continues due to lockdown in various places

The company believes that COVID-19 is not likely to have any material impact on its ability to service its debt or other obligations." The company, which is one of the leading Indian electrical firms producing motors, generators, transformer and other electronic equipment, also said there is disruption in supply chain as "certain vendors are situated in contaminated zones across India." "However, if lockdown is lifted in the near future there will be not significant impact," it added.

PTI | New Delhi | Updated: 03-08-2020 16:25 IST | Created: 03-08-2020 16:25 IST
Kirloskar Electric says uncertainty in operations continues due to lockdown in various places

Kirloskar Electric Company on Monday said uncertainty in its operations on account of COVID-19 pandemic continues due to lockdown in various places. In a regulatory filing disclosing the impact of the pandemic on its operations, the company said that with progressive easing of lockdown restrictions from May 3, 2020 and further permissions and relaxations, its operations have started in phased manner.

The company said the lockdown affected its sales to the extent of Rs 18 crore in March. However, its operations have now resumed at various manufacturing locations and offices. "However, there were no operations in April 2020 due to the lockdown and sanitisation of our works. The uncertainty on account of COVID-19 continues due to the lockdown in various places," Kirloskar Electric Co said.

On impact of pandemic on its profitability, the company said it depends "on complete lifting of lockdown and other restrictions imposed on COVID-19 since materials are supposed to flow from suppliers situated at pan Asia and finished goods required to moved across pan India," As far as liquidity position is concerned, Kirloskar Electric Co said considering the present position, it "does not foresee any adverse impact on its ability to meet its liabilities as and when they fall due, unless other-wise the lockdown continues which is uncertain". Commenting on the impact of the health crisis on its ability to service debt and other financing arrangements, the company said it is "likely to have material impact however the company is planning all its resources to honour its obligations. The company believes that COVID-19 is not likely to have any material impact on its ability to service its debt or other obligations." The company, which is one of the leading Indian electrical firms producing motors, generators, transformer and other electronic equipment, also said there is disruption in supply chain as "certain vendors are situated in contaminated zones across India." "However, if lockdown is lifted in the near future there will be not significant impact," it added.


TRENDING

OPINION / BLOG / INTERVIEW

Post-COVID-19 Nigeria needs a robust Health Management Information System to handle high disease burden

Nigeria is among a few countries that conceptualised a health management information system HMIS in the early 90s but implementation has been a challenge till date. Besides COVID-19, the country has a huge burden of communicable and non-com...

Morocco COVID-19 response: A fragile health system and the deteriorating situation

Learning from its European neighbors, Morocco imposed drastic measures from the initial stages of the COVID-19 outbreak to try to contain its spread. The strategy worked for a few months but the cases have surged after mid-June. In this sit...

COVID-19: Argentina’s health system inefficiencies exaggerate flaws of health information system

You can recover from a drop in the GDP, but you cant recover from death, was the straightforward mindset of Argentinas President Alberto Fernndez and defined the countrys response to COVID-19. The South American nation imposed a strict...

Rwanda’s COVID-19 response commendable but health information system needs improvement

Rwanda is consistently working to improve its health information system from many years. However, it is primarily dependent on the collection and reporting of health data on a monthly basis. Besides, evaluation studies on Rwandas HIS publis...

Videos

Latest News

Dr Reddy's launches generic drug in US market

Drug major Dr Reddys Laboratories on Friday said it has launched generic version of Precedex injection, used for sedation purposes in patients, in the US market. The Hyderabad-based companys Dexmedetomidine Hydrochloride in 0.9 per cent Sod...

Lockdown: Lecturer turns farm labourer to support family

Till March, Navnath Gore was a lecturer in a college in Ahmednagar district of Maharashtra, but the COVID-19-induced lockdown took away his contract job and reduced him to a farm labourer. Gore 32, a resident of a small village, Nigdi, in J...

Nigeria: Gombe Government approves reopening of schools across the state

The Gombe State Government of Nigeria has approved the reopening of schools across the state which has been closed since the outbreak of coronavirus across the state, according to a news report by Naija News.The development was disclosed by...

Golf-Harrington moves giant tree branch to play shot at Irish Open

Golfers can remove loose impediments without penalty under the rules of the game and while they usually take the form of twigs and stones, Padraig Harrington found himself heaving a huge tree branch out of the way to get to his ball at the ...

Give Feedback