CARE reaffirms ratings on Vinati Organics' bank facilities; Stock jumps 2.5%

The ratings continue to derive strength from the long-track record and experience of the promoters in the speciality organic chemical industry.

Oct 14, 2021 11:10 IST India Infoline News Service

Vinati Organics
Vinati Organics Ltd inform you that the CARE has reaffirmed the ratings to the bank facilities of the Company.

Long-term/Short-term Bank Facilities has been reaffirmed to CARE AA; Stable / CARE A1+ worth Rs75cr.

Short-term Bank Facilities has been reaffirmed to CARE A1+ of Rs10cr.

As per rationale report, the ratings assigned to the bank facilities of Vinati Organics Limited (VOL) factor in its market leadership in its two key products, viz, in 2- Acrylamido 2 Methylpropane Sulfonic Acid (ATBS) and Isobutyl Benzene (IBB) in the global market. C

The ratings continue to derive strength from the long-track record and experience of the promoters in the speciality organic chemical industry. 

The ratings continue to be tempered by the concentration of its total operating income from limited key products and susceptibility of VOL’s operating margin to raw material price/foreign exchange fluctuations.

At around 11:30 AM, Vinati Organics was trading at Rs2,065.75 apiece up by Rs49.5 or 2.46% on Sensex.

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