Subros expects business to reach pre-COVID-19 levels in latter part of FY21

He further said, "the waves of these rapid changes were also felt at Subros...The short term growth prospects in the automobile sector were not very conducive at Subros". Suri, however, said the company is "working closely with all our esteemed customers to chalk out a path to recovery and we expect reclamation of pre-COVID-19 levels in the latter part of FY20-21."

The coronavirus pandemic, however, has had an encouraging impact on the auto sector. "The automobile industry, once considered a luxury, is now a necessity; people want to have independent conveyance whether it is a small car or a two-wheeler," he said.

Looking at the increasing demand and customer projections, Suri said, "We had invested in capacity expansion and inaugurated our new plant in Karsanpura, Gujarat this year." Stating that COVID-19 has gripped economies, putting a dent on global growth, Suri said, "While the effects are still hard to predict at this juncture, the influence of the virus outbreak is widely felt."

"While we expect some impact arising from the outbreak on the company, we remain confident that in our business model and proven track record that will weather us through these uncertain times."

Subros Managing Director Shradha Suri said 2020-21 is one of the most challenging year in the history of the company as the impact of the pandemic on the country, the auto sector and the company is "unprecedented".

"Economic activity in the country was at a complete halt for all of Q1 and the impact continues in Q2. The silver lining is that we are expecting a bounce back based on global trends and also the streaks of hope that we are seeing at the moment," she said. "We aim to come out of this in a stable and steady manner whilst trying to minimise the impact," she added.