‘Nestle India does not expect financial challenges amid COVID-19′
Food and beverage major Nestle on Thursday said that it does not foresee challenges regarding financial resources in view of the coronavirus pandemic.
In a regulatory filing, the company said that it has a strong cash position and is in a comfortable liquidity position to meet its financial commitments.
It further said that while the impact of COVID-19 on the company’s business operations has not been materially adverse so far, it is extremely difficult to assess its impact on near term and annual results, it said. Nestle said that it continues to evaluate the impact of COVID-19 as the situation evolves.
“The company does not foresee any specific challenge in terms of its capital or financial resources. We do not expect a significant deviation in profitability basis our current reading of the fast evolving circumstances,” it said.
Further, it also said that challenges are not expected in realising or recovering its assets and thus there shall not be any significant impairment to the carrying value of its assets.