Paramount Cosmetics (India) Limited has informed that the Company had approached CARE Ratings for availing rating on its Banking Facilities ie., Short Term & Long Term Bank Facilities.
CARE has assigned CARE B/Stable rating to the long-term facilities while short-term ratings has been assigned at CARE A4.
The rating assigned to the bank facilities of Paramount Cosmetics (India) Limited is tempered by modest scale of operations, low cash accruals against debt servicing obligations, thin profitability margin, stretched working capital cycle and intense competition from large number of unorganised players.
However, the rating derives strength from the long vintage of over 3 decades of the company and established brand presence under ‘Shilpa’ brand name in the cosmetics industry.
Furthermore, the rating derive strength from its experienced promoters being pioneers in Bindi segment and has gained market repute and brand acceptance in the Bindi segment.
At around 2:32 PM, Paramount Cosmetics (India) was trading at Rs28.80 apiece down by Rs1.1 or 3.68% on Sensex.
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