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Bharat Forge Ltd — Regulatory Filings 2020
May 27, 2020
61415_rns_2020-05-27_f270dda4-559a-4183-b2ab-0261755c4942.pdf
Regulatory Filings
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B H A R A T F O R G E
May 27, 2020
To, BSE Limited, 1st Floor, New Trading Ring, Rotunda Building, P.J. Towers, Dalal Street, Fort, Mumbai - 400 001 BSE SCRIP CODE – 500493
National Stock Exchange of India Ltd., ‘Exchange Plaza’, Bandra-Kurla Complex, Bandra (East) Mumbai- 400 051 Symbol: BHARATFORG Series: EQ
Dear Sir,
Subject: Disclosure of impact of COVID 19 pandemic on operations of the Company
Ref: SEBI Advisory vide Circular No. SEBI/HO/CFD/CMDl/CIR/P/2020/84 dated May 20, 2020
With reference to the SEBI advisory mentioned above, we wish to inform that our plants in Maharashtra have progressively resumed operations during the month of May based on Government of India (GoI) & State Government notifications and approvals received from appropriate local authorities, post completion of mandatory safety check and training of personnel on Physical distancing, health & hygiene as per the guidelines stipulated by the Ministry of Home Affairs of the Government of India
Few key aspects of the training for employees include –
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Mandatory self-declaration of good health before joining and daily updates through Aarogya Setu App.
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Wearing of face-masks, regular sanitization of personal items, work-stations and strict adherence of social distancing norms.
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Thorough sanitization of all workplaces regularly, buses and other official vehicles after each trip.
The above protocols/ guidelines are being reviewed regularly and updated based on revisions received from local authorities.
The operations in Germany have restarted from the beginning of May while plants in North American and Sweden continued to operate to address customer demand, albeit at sub optimal utilization.
Being a Tier1/Tier2 supplier to the automotive and industrial segment in India & globally, our demand, in turn, is dependent on the speed and scale of ramp up of global customers. This will also decide the pace of increase in capacity utilization at our various plants.
While we closely watch and monitor the global economic and Covid-related developments, the impact of the Coronavirus Pandemic on our business cannot be reliably predicted.
This is for your information and records.
Thanking you.
For Bharat Forge Limited
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Tejaswini Chaudhari Company Secretary
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BHARAT FORGE LIMITED, MUNDHWA, PUNE 411 036, MAHARASHTRA, INDIA. PHONE: + 91 20 6704 2476 6704 2451 6704 2544 (Secretarial) Fax 020 2682 2163 Email: [email protected] WEBSITE: www.bharatforge.com CIN L25209PN1961PLC012046