In light of the current lockdown and the adverse impact that it has had on discretionary spending, India's largest decorative paint maker Asian Paints said that the current environment has been strenuous and that the first quarter of the financial year 2021 is likely to be a washout.

"Now with the lockdown opening, we see some of our plants and warehouses opening as some shops for non essentials have been allowed to open up," said Amit Syngle, MD & CEO, Asian Paints. However, most plants are open with a limited capacity.

On the overall business growth and plans forward, Syngle said that the company is watching the environment very closely. "We're watching and devising scenarios as to what can happen in these exceptional circumstances. Don't see any action happening in the first quarter. Q1 is really wiped off in terms of the point of view of all the indications that are coming in," said Syngle.

Speaking about the liquidity position, Asian Paints is preserving cash right now and is looking at stringent measures with respect to cost control.

An interesting and much in demand category that Asian Paints entered into on Friday was the hand sanitisers space. It said that it would start making hand and surface sanitisers under the Viroprotek brand. "Sanitisers & surface cleaners will be part of Asian Paint's portfolio in the future. We are looking to enter the service Industry for sanitization in a big way," said Syngle.