Currently, the plants in Tarapur and Navi Mumbai are operating but due to restrictions on people movement the capacity utilization is currently at about 60-70% says NGL Fine-Chem Limited. 

 

The impact of COVID-19 will probably last for the entire year and the ability to scale up operations depends on the manner and speed at which the government scales down restrictions on movement of people and the rate at which the pandemic is controlled. In view of mitigation measures taken to minimise the impact of COVID-19, the company does not anticipate any significant impact on operations.

 

Export and domestic sales have resumed and regularized from May 2020 except for air dispatches which are still hampered due to restrictions on flights from the country. On the other hand, office and laboratory in Mumbai has opened from 8th June, 2020 and is now operating with 10% staff whereas the rest of the employees are working from home.

 

Preventive measures have been implemented for ensuring safety of manpower and these include sanitization of premises, personal hygiene, social distancing, etc.

 

NGL Fine-Chem does not expect any major impact on profitability due to COVID-19. The company has availed of the moratorium offered by the bank to conserve liquidity. Initial moratorium of 3 months starting from March 2020 has now been extended to 6 months as per RBI guidelines.