Chembond Chemicals Limited said that Covid-19 has impacted normal business operations of the group. Manufacturing, supply chain, cash flows etc. have been disrupted. ln view of the lockdown, the profitability during Q1 (April to June) is adversely impacted.

 

The company sales also declined 27.58% to Rs 51.50 crore in Q1 FY21 as against Rs 71.11 crore last year.

 

Though the cash flows were initially disrupted and under stress in Q1, they are improving and slowly returning to normalcy. Nationwide lockdown affected adversely the supply of material, availability of labour, transportation etc. However, the same improved as the lockdown was eased.

 

All plants of the group were shut down on March 23, 2020 only to restart at considerably lower productivity between April 8 and April 25, 2020. The company took necessary precautions to ensure hygiene, safety, and wellbeing of all our employees at all plants have been implemented.

 

Subsequent to receipt of permissions from the authorities, the company resumed operations in plants in phased manner. Many employees of its offices are still working from home.