Whirlpool of India Limited informed the exchanges on Thursday that the company had suspended its manufacturing operations in a phased manner after the Covid-19 lockdown was imposed in last week of March. Its employees were working from home at all locations except for employees whose physical the presence was necessary for essential work.
There were maintenance and upkeep of plants before the commencement of manufacturing operations from May 6, 2020, onwards. The capacity utilisation in the initial period after restarting operations was affected due to hindrances in supply chain and availability of labour.
This along with limited opening up of commercial activities impacted the overall business and sales of the company in the first quarter ended June 30, 2020, which was also reflected in the results.
“In view of the relaxations given by the Government as per its Unlock guidelines, the operations of the company have almost resumed completely. In these unprecedented times, the overall financial impact on a full year basis is currently unascertainable. We are closely monitoring the situation and will intimate the stock exchange on any material development, if any, as may be required from time to time,” company said.
Whirlpool of India Ltd is currently trading at Rs2,040 up by Rs20.85 or 1.03% from its previous closing of Rs2,019.15 on the BSE.
