Latest News | Uncertainties Rise as Pandemic Impacts Customer Orders: Exide Industries
Get latest articles and stories on Latest News at LatestLY. Battery maker Exide Industries on Thursday said uncertainties have increased as customer orders have started getting impacted due to the second wave of COVID-19, while operations at some of its manufacturing units are temporarily affected.
New Delhi, May 20 (PTI) Battery maker Exide Industries on Thursday said uncertainties have increased as customer orders have started getting impacted due to the second wave of COVID-19, while operations at some of its manufacturing units are temporarily affected.
In a regulatory filing intimating the impact of COVID-19, the company said it is "carefully reviewing the demand and supply situation and recalibrating its operations accordingly while protecting the interest of its customers, dealers and suppliers".
With the rampant spread of the second wave of COVID-19 and lockdowns enforced in various states/parts of the country, the operations at some of the company's manufacturing units are temporarily affected and have been scaled down, it added.
"The uncertainties have been increased as the customer orders have started getting impacted," it added.
Exide Industries further said the endeavour is to ensure optimal level of inventory at plants and dealerships in order to be prepared for a rebound in demand once the situation returns to normalcy.
The company continues to work closely with its dealers and suppliers to minimise the impact of disruption in operations due to localised lockdown restrictions in various parts of the country, it added.
It, however, said the expected impact on its business is difficult to assess at present as the situation continues to evolve.
Stating that it has scaled up efforts to ensure health and safety of its employees, associates and supporting ecosystem, the company said it is "continuously monitoring the situation and is ready with its business continuity plans to be able to quickly resume and scale up operations as and when the situation improves".
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)