It said both Mumbai and Bhavnagar where its operations are based are under lockdown and it continues to provide work from home to employees.
"In the ambit of the prevailing Force Majeure conditions, the impact of the COVID-19 pandemic is presently not completely ascertainable and the same will depend on how quickly the global economy recovers. The business of the company has been impacted by the COVID-19 pandemic," the company said in a regulatory filing to the BSE.
It said that currently, it is not possible to quantify the impact on the company's profitability or financial position but the firm does not expect any major impact on its operations and profitability.
The firm said its registered office is situated at Nariman Point, Mumbai, which falls under red zone and is under lockdown. Hence, the operations at the office are suspended at present. However, all the employees based there have been allowed the facility to work from home where their job duty permits it, until further notice by the management.
It said it started operations at Bhavnagar, Gujarat, from May 26 following necessary permission from the state government on partial capacity due to shortage of manpower, as some of the migrant workers have left during lockdown to their respective states.
The company expects them to return back in coming months, Hariyana Ship Breakers said.
About restarting of the complete operations, it said the company will restart complete operations in the next few months depending on the offtake rising to pre-lockdown levels as allowed by the Maharashtra and Gujarat governments and also availability of adequate manpower. NAM HRS