The Phosphate Company Limited announced that the COVID-19 pandemic has rapidly spread across the world as well as in India and has caused shutdown of all offices and factories from March 24, 2020. The Company has resumed its operations in a phased manner in line with the directives of the Government of India. The Company's management has made initial assessment of likely adverse impact on business, and believes that the impact is likely to be from short to medium term in nature. The management does not see long term risks in the Company's ability to continue as a going concern and meeting its liabilities as and when they fall due. The Management has also evaluated the recoverability of receivables and realisability of inventory on hand based on subsequent realisations and customer orders respectively. However, given the uncertainties associated with the eventual outcome, nature and duration of the pandemic, the impact may be different from that estimated as on the date of approval of the financial statements for the year ended 31-03-2020 in the board meeting held on 31-07-2020.