“Considering the uncertainties involved, the impact arising on account of Covid-19 pandemic on the performance of the company is not ascertainable at this stage,” the company said in a disclosure to the stock exchanges.
This comes after Tamil Nadu Chief Minister Edappadi K Palaniswami held a meeting with industry veterans in the State via videoconference on Thursday to understand the challenges that businesses are being plagued with.
India Cements Vice Chairman N Srinivasan was among those who attended the meeting and said that with no income and financial strain, the industry will face enormous difficulty if the lockdown is continued. He added that there will be a problem with raising funds from banks and paying salaries in the future too.
“We will go by your decision and will strictly follow the protocols on social distancing, on who should enter the factory, safety of employees and also strictly follow the standard operating procedures and dos and don’t s already prepared by the company as per official guidelines,” he said during the discussion.
