Indian companies are staring at another dismal washout year as demand falls due to lockdowns, with several states imposing various restrictions in a desperate bid to control the rampaging second wave of the Covid-19 pandemic. As the country battles the devastating effects of the second wave, top CEOs say they have no go but to shut down plants as dealers are reporting low sales.

Whether it is airlines, hotels and restaurants, automobiles or transportation, almost every company is staring at an unprecedented crisis, CEOs say. They warn that some companies may not survive prolonged lockdowns. Among the prominent danger signals, a slowdown in construction activity will cut cement demand drastically. Cement consumption growth in fiscal 2022 may be lower than the previous forecast of 10%-12% growth in the sector.

IT companies may do well, but telecom will see slower growth as customers’ income falls drastically across the country.