ABSTRACT
In April 2020, Vinita Jagtap, General Manager – Finance, of Monark Building Materials (MBM), was worried about the implications of the credit-rating agency placing the company on a negative watch. The rating action had followed the subdued performance of MBM in the financial year 2019–20 (FY20) and the likely further deterioration in performance due to Covid-19-induced lockdown in the peak season of FY21.
