India city Mumbai 2020 pandemic India city Mumbai

Pandemic hurts working cap management, top-500 cos' cash cycles stretched by 6 days: Report

Reading now: 907
www.livemint.com

MUMBAI : The pandemic has impacted the working capital management for companies and stretched top-500 listed companies' cash cycles by six days, a study by a consultancy firm said on Monday.In the 12 months ended September 30, 2020, businesses in India saw an increase in the cash-to-cash cycle by 6 days year-on- year, the study of top-500 listed companies by EY, said.Businesses in India have an opportunity to free up to ₹5.2 lakh crore tied up in working capital, which can help businesses rebound much strongly from the crisis, it added.The study said 69 per cent of companies extended their payables to offset the effects of the pandemic on working capital.It explained that the pandemic-induced lockdowns resulted in increased inventory.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA