Acuite assigns ratings on Vaswani Industries bank facilities; Stock up 2%

The ratings assigned reflect extensive experience of promoters spanning over two decades in iron and steel industry.

Jul 06, 2021 01:07 IST India Infoline News Service

Acuité has assigned the long-term rating of ‘ACUITE BBB’ and the short-term rating of ‘ACUITE A3+’ on the Rs71.95cr bank facilities of Vaswani Industries Limited (VIL). The outlook is ‘Stable’.

According to the Rationale report, the ratings assigned reflect extensive experience of promoters spanning over two decades in iron and steel industry, long track record of operations and above-average financial risk profile of the company.

On the contrary, ratings are constrained on account of fluctuating profitability margins, working capital intensive nature of operations and intense competition in the industry.

At around 1:00 PM, Vaswani Industries was trading at Rs14.25 apiece up by Rs0.25 or 1.79% from its previous closing of Rs14 apiece on the BSE.

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