Asian Paints has transferred Rs. 40 crore to about 52,000 contractors so that they are able to help them in their operations. 

 

The company has also launched a ‘Safe Painting’ campaign for ensuring safety of painters and assurance to customers for a safe painting experience at home.

 

Businesses are picking up in a few smaller towns and cities slowly and some of the earlier incomplete painting jobs are showing some movement. However, in the metros and Tier 1 cities, the business is slow and, in some cases, yet to pick up due to higher number of red zones, restrictions on movement, lack of labour, strict norms followed by housing societies. The company expects that the demand will pick up once lockdown restrictions are relaxed.

 

The international markets where the company operates have been impacted to varying extent based on the spread of the pandemic and the restrictions on business activities placed by the respective government authorities in these countries. At this point in time, the duration for which these restrictions will remain in place is uncertain and resumption of full-fledged operations will depend upon directives issued by the respective government authorities.

 

The company is in a comfortable liquidity position to meet its commitments. The company has also implemented stringent cost control measures across the organization to conserve cash to address any evolving situation resulting from the pandemic. 

 

Considering the fact that the situation is exceptional and is changing dynamically, the company is not in a position to gauge with certainty, the future impact on its operations. However, the company is confident about adapting to the changing business environment and responds suitably to fulfil the needs of its customers. 

 

The company has opened all manufacturing plants after taking requisite government permissions after all the operations were disrupted since mid-March 2020 due to COVID-19 pandemic.   

 

The permissions for running the plants across all the businesses (Decorative/Home Improvement/Industrial operations) to a limited capacity or even to a full capacity in some geographies. The company has also opened about 85% of warehouses across the country so that they can cater to some of the markets which are opening up.