SPEL's Board considered the Unaudited Financial Results for the Q1 FY 2020- 21. The Company had reported decrease in Sales (₹3.96 Crores) compared to the previous quarter (₹9.51 Crores). This has resulted in loss of ₹1.14 Crores compared to profit of ₹0.19 Crores profit in the previous Quarter.
The above results were due to Government COVID related lockdowns, resulting in total shutdown of factory for one month. Only partial production was resumed later due to manpower & public transport restrictions. Production was also effected due to limited cargo flights which resulted in shortage of critical imported raw materials.