Brief: India's Aro Granite Industries Says Business Marginally Impacted By Covid-19
16/03/2020 06:32
March 16 (Reuters) - Aro Granite Industries Ltd AROG.NS :
* INDIA'S ARO GRANITE INDUSTRIES SAYS "OUR BUSINESS HAS BEEN
MARGINALLY IMPACTED BY COVID-19"
* STRUGGLE FOR SOURCING RAW MATERIAL CONTINUES AT HOSUR
PLANT
* DO NOT HAVE ANY COMMERCIAL DEALINGS FOR SALES OR PURCHASE
OF
CONSUMABLES WITH CHINA
* AS OF NOW EXPECT PERFORMANCE SHALL BE IN LINE AS PER
EXPECTATIONS
* SHORTAGE AT HOSUR PLANT DRIVEN DUE TO CLOSURE OF GRANITE
QUARRIES DUE TO NON-COMPLIANCE WITH ENVIRONMENTAL LAWS
* ARO GRANITE INDUSTRIES - EXCEPT FOR QUARTZ PLANT
COMMISSIONING,
SITUATION IN CHINA DOES NOT AFFECT CURRENT BUSINESS OF NATURAL
STONES
* ARO GRANITE INDUSTRIES - "BIG FALL IN OIL PRICES" MAY
LOWER
TRANSPORTATION COST OF RAW MATERIALS BUT "THIS WILL NOT BE A BIG
IMPACT"
Source text for Eikon: ID:nBSE5K5mXv
Further company coverage: AROG.NS
((Reuters.Briefs@thomsonreuters.com;))