Prabhat Dairy is still waiting for permission for delisting, it said in its BSE filing. It has filed for in-principal approval for delisting of its equity shares from the stock exchanges, in 2019.
The company in its filing said, "The permission of stock exchanges is awaited."
The company had listed itself in the stock exchanges in the year 2015.
This delisting information was part of the disclosure information the company provided to the stock market. This disclosure material was to basically inform investors about the impact of lockdown on the company.
Meanwhile, the company in its BSE filing said that there has been a temporary reduction in the demand due to COVID-19-induced lockdown. But it expects the demand to pick up by the third or fourth quarter.
During the lockdown period, the revenues and profitability are likely to be adversely impacted, added the company. While it is closely monitoring the situation, it is optimistic that business will get normalised soon.
The company has no liquidity trouble at this time of the pandemic. "There is no change in the capital and financial resources, " it added.
The company has taken overhead control measures to manage the operations, weekly review mechanisms have been adopted to review the account receivables and measures taken to control the expenditure.
While the company's manufacturing facilities remained partially shut from March 23, 2020, due to lockdown, it was partially reopened from April 15. This did impact the company’s operations during April 2020.
