Bharat Gears expects impact on financial performance in Q1FY22 due to Maharashtra Covid-19 restrictions

Bharat Gears Limited informed the exchanges Thursday that in view of the surge in Covid positive cases due to the second wave, the Government of Maharashtra has imposed strict restrictions - "Break the Chain curbs" - for a period starting from April 14, 2021 to May 1,2021. The Government of Maharashtra as well as respective local bodies have issued various guidelines for operations during this period.

The operations of plant(s) may be impacted due to effect of these restrictions on availability of raw materials, availability of labour and overall effectiveness of supply chain. We are constantly assessing the situation and are in active dialogue with all our customers, suppliers, vendors etc. for carrying on the operations as uninterrupted as possible.

Since the overall situation remains uncertain, the operations of the company in terms of production and sales could be affected during this period and resultantly, the financial performance of the company in the first quartet of FY22 could be impacted.

“We continue to implement appropriate Covid-19 protocols across our factories & offices and make every effort to be in strict compliance with Covid-19 operating guidelines set by the state and local authorities. Work from Home facility has been extended to the staff wherever feasible and prudent,” company said in a regulatory filing on Thursday.