Shri Jagdamba Polymers Limited (SJPL) hopes that the business situation should normalise from June 2020 onwards as April - May 2020 being lockdown months, the revenues and profitability of the company are likely to be adversely impacted for the period. 

 

ln view of the lockdown, the profitability during 1st quarter (April to June 2020) is also likely to be adversely impacted. 

 

The company's manufacturing facilities remained shut from March 22, 2020 due to lockdown and partially re-opened in April 2020 which has impacted its operations during April and May, 2020. Some of the company's pending orders are on hold as per requirements of buyers. However, the company is in process of dispatching export orders to foreign buyers on start of significant activities from May 15, 2020. On domestic front, the company has no significant sales.

 

The company has restarted operations with available workforce, since May 15, 2020, adhering to the safety norms prescribed by the government. The company is taking utmost care of its staff and work force like sanitization, social distancing, mandatory mask wearing, thermal check at the gate, maintaining proper hygiene. Supply chain is also being monitored to ensure availability of material. 

 

The company's capital and banking facilities remain intact and there are no liquidity concerns as the company have sufficient unutilized banking limits available. However, the company is witnessing delay in receivable collection from buyers as buyers are extending payment terms.

 

There are no liquidity concerns as the company has sufficient banking limits available however, due to receivable getting delayed, the cash position will have minor impact. The company does hope cash position to normalize by June 2020.