CARE revises 'BBB/Stable' rating on Bhagiradha Chemicals & Industries bank facilities

Short term ratings has been revised to CARE A3+.

Jun 17, 2021 03:06 IST India Infoline News Service

Bhagiradha Chemicals & Industries Ltd has revised its ratings of bank loan facilities. 

Long term facilities has been revised to CARE BBB with stable outlook and short term ratings has been revised to CARE A3+.

According to the rationale report, the revision in the ratings assigned to the bank facilities of the company is on account of improvement in financial and operational performance along with improved profitability margins during FY21.

The ratings continue to derive strength from experience promoters with long track record of operations, reputed client base, established Research & Development facilities, comfortable capital structure, healthy debt coverage indicators and adequate liquidity position.

On Thursday, the scrip ended at Rs675 per piece down by 1% on Sensex.

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