•RUSSEL · 2020. 8. 3. · E-mail: [email protected] Website: . ~~ AWllliamson Magor Group Enterprise. McLEOD RUSSEL ~-~-country due to the lockdown has resulted in

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The SecretaryBSELimited PJ.Towers,zs'' Floor, Dalal Street,MUMBAI-400001Scrip Code: 532654

The SecretaryNational Stock Exchange ofIndia Ltd,Listing dept. Exchange Plaza,5th FI. Plot No. C/l,G- Block, Bandra-KurlaComplex, Bandra (E)MUMBAI-400051Scrip Code: MCLEODRUSS

Dear Sir,

03 August, 2020

The SecretaryThe Calcutta Stock ExchangeLimited7, Lyons RangeKOLKATA-700001Scrip Code: 10023930

Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and DisclosureRequirements) Regulations, 2015 - Disclosure relating to impact of COVID-19 pandemic onthe Company

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CMDI/ClR/P/2020/84 dated20th May, 2020, please find attached a note on material impact of the COVID-19 pandemicand the resultant lockdown, on the Company.

This is for your information and record.

Thanking You,

Registered Office :

McLEOD RUSSEL INDIA LIMITEDCorporate Identity Number (CIN) : LSl109WB1998PLC087076

FOUR MANGOE LANE, SURENDRA MOHAN GHOSH SARANI, KOLKATA - 700 001TELEPHONE: 033-2210-1221, 2248-9434/35, FAX : 91-33-2248-8114/6265E-mail: administrator@mdeodrussel,com Website: www.mdeodrussel.com

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Disclosure in terms of SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/84 dated 20 May2020:

~---r----------------------------~----------------------------------'Sr.No.1

Although the Government had allowedeasing of restrictions from mid-April 2020 ina gradual manner, the Company has sufferedan estimated crop loss of 30 lakh kgs whichrepresents approximately 7% of the expectedannual production, resulting in reduced salesfor the year by about Rs.6300 lakhs.~--~--------------------------~------~--~----------------------~

Particulars

Impact of the COVID-19 pandemicon the Business:

Disclosures

The ongoing stages of COVID-19 lockdownimposed in India from 24" March 2020 had anegative impact on the business of theCompany.

The Company have taken a series ofmeasures in view of the COVID-19 pandemicto ensure safety and health of all ouremployees, workers etc., and to ensurecompliance with various directives beingissued by the World Health Organisation(WHO), Central Government, StateGovernment and Local Authorities from timeto time.

The Company is a part of the Tea Industrywhich is looking at a loss of crop in thefinancial year 2020-21.

In view of the lock down announced acrossthe country, the operations of the tea estatessituated in the State of Assam and WestBengal were temporarily suspended. Most ofthe tea estates of the Company are situatedin the Assam.

Registered Office:

McLEOD RUSSEL INDIA LIMITEDCorporate Identity Number (CIN) : l51109WB1998PLC087076

FOUR MANGOE lANE, SURENDRA MOHAN GHOSH SARANI, KOlKATA - 700 001TELEPHONE: 033-2210-1221, 2248·9434/35, FAX : 91-33-2248-8114/6265E-mail: [email protected] Website: www.mcleodrussel.com

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McLEOD RUSSEL

2 Ability to maintain operationsincluding the factories/units/officespaces functioning and closed down:

As on date, the Company's Operations havefully resumed in all the tea estates and otherlocations with necessary safety precautionsfor our employees.

For the employees at Kolkata and Guwahati,the Company has adopted work from homepolicy during the entire duration of thelockdown, and Employees who are attendingthe office for certain critical tasks, have beenadvised to follow all safety precautions likemandatory wearing of mask, use of handsanitizer, social distancing, non-use of airconditioners etc.

3 Schedule, if any, for restarting theoperations:

As on date all tea estates in Assam and WestBengal are functional including Head Officeat Kolkata and regional office at Guwahati.The Tea estates in Assam and West Bengalwere shut from 24th March upto mid Aprildue to the nationwide lockdown. Work wasallowed to be resumed in Assam plantationswith 50% workforce & 25% workforce inWest Bengal plantations, following all safetyprecautions as per guidelines issued by theGovernment. From May deployment of 100%workforce was permitted by the Govt. Forthe employees at the Head Office at Kolkata'Work from Home' was followed duringperiod of lockdown. Once lockdown ruleswas relaxed Head office opened in a phasedmanner from June, 2020 following all safetyprecautions like disinfectant tunnels,temperature scanner, hand sanitisers anduse of mask made mandatory along withsocial distancing.

4 Steps taken to ensure smooth As stated above all tea estates in Assam and

Registered Office:

McLEOD RUSSEL INDIA LIMITEDCorporate Identity Number (eIN) : L51109WB1998PLC087076

FOUR MANGOE LANE, SURENDRA MOHAN GHOSH SARANI, KOLKATA- 700 001TELEPHONE: 033-2210-1221, 2248-9434/35, FAX ; 91-33-2248-8114/6265E-mail: [email protected] Website : www.mcleodrussel.com

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McLEODRUSSEL

5 Estimation of the future impact of The operations of the tea estates wereCOVID-19 on operations: disturbed due to nationwide lockdown

announced. There had an adverse impact onrevenue. With the easing lock down, theCompany has started operations at TeaEstates. We estimate that with the rolling

I back of economy in its track, business of theI Company will be in motion.

functioning of operations: West Bengal and offices in Kolkata andGuwahati are functioning following all laiddown safety protocols. Awarenessprogrammes were conducted on the teaestates. Primary Crisis Management Teamand Line Level Crisis Management Team wereformed in Assam and West Bengal teaestates to monitor the situation. Isolationwards were set up on each tea estate formigrant workers returning back. A PrimaryCrisis Management Team was formed atHead Office at Kolkata and standard protocolguidelines for precautions to be followed atwork for Covid-19 management wascirculated to all employees. Safetyprecautions are being followed at alllocations.

Visitors to office have been restricted. Allmeetings are being conducted online on avirtual platform.

All safety protocol has been put in place andare being followed.

6 Details of impact of COVID-19 on Company:

I Not quantifiable

j

6.1 Capital and Financial Resources

Registered Office:

McLEOD RUSSEL INDIA LIMITEDCorporate Identity Number (CIN) : L51109WB1998PLC087076

FOUR MANGOE LANE, SURENDRA MOHAN GHOSH SARANI, KOLKATA - 700 001TELEPHONE: 033-2210-1221, 2248-9434/35, FAX: 91-33-2248-8114/6265E-mail: [email protected] Website: www.mcleodrussel.com

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McLEOD RUSSEL

6.2 Profita bi lity Premature for assessment. No materialimpact is expected.

6.3 Liquidity Position Adversely affected due to impact onprofita bility

6.4 Ability to service debt and other Adversely affected due to impact onfinancing arrangements profitability

6.5 Assets 1. No impact on the useful life and operatingefficiency of tea bushes and other fixedassets.2. Adverse impact on recovery of loan givento group given to group given.

6.6 Internal Financial Reporting andControl

No impact

6.7 Supply Chain

6.8 Demand for products/ services

There was some disruption in movement of

our teas to the sale centres during the period

of lockdown at the tea estates in Assam and

West Bengal in March and April 2020.

Thereafter, following the lifting of the

lockdown at our tea estates from mid April

onwards, transportation normalized but

there were instances of slowdown due to

restrictions on movement at different times

in Assam, West Bengal and other states.

Currently, the supply chain is functioning

normally and there is no disruption in

movement of our teas to the sale centres.

Demand for our teas is very robust followingthe production losses during and post thelockdown at the tea estates. There is anapparent shortage of tea in the domesticmarket and this, coupled with an increase inconsumption of grocery items across the----~----------------------------~----~------~--~~-------------~

Registered Office:

McLEOD RUSSEL INDIA LIMITEDCorporate Identity Number (elN) : L51109WB1998PLC087076

FOUR MANGOE LANE, SURENDRA MOHAN GHOSH SARANI, KOLKATA - 70TELEPHONE: 033-2210-1221, 2248-9434/35, FAX : 91-33-2248-8114/E-mail: [email protected] Website: www.mcleodrussel.

~~ A Wllliamson Magor Group Enterprise

McLEOD RUSSEL

~-~-country due to the lockdown has resulted inincreased levels of demand for our teas.

6.9 Existing contracts/ agreements Existing contracts and agreements are allwhere non-fulfilment of the secure. We have not had any cases of nonobligations by any party will have fulfilment of obligations by any party and atsignificant impact on the listed this point we do not anticipate any change inentity's this going forward.business

7 Other relevant material updatesabout the listed entity's business. Nil

Registered Office;

McLEOD RUSSEL INDIA UMITEDCorporate Identity Number (CIN) : LS1109WB1998PLC087076

FOUR MANGOE LANE, SURENDRA MOHAN GHOSH SARANI, KOLKATA - 700001TELEPHONE: 033-2210-1221,2248-9434/35, FAX : 91-33-2248-8114/6265E-mail: [email protected] Website: www.mcleodrussel.com

(jf~ A WJlliamson Magor Group Enterprise