CRISIL assigns rating to Andrew Yule & Company's bank facilities

The ratings reflect the established position of AYCL in the tea industry along with continued support from the Government of India.

Oct 05, 2021 02:10 IST India Infoline News Service

CRISIL Ratings has assigned its ‘CRISIL BBB-/Stable/CRISIL A3’ ratings to the bank facilities of Andrew Yule and Co Ltd (AYCL).

The ratings reflect the established position of AYCL in the tea industry along with continued support from the Government of India (GoI), well-established customer base and healthy product diversity supporting the scale and sustainability of operations, healthy capital structure and moderate financial risk profile.

These strengths are partially offset by susceptibility to fluctuations in tea prices, seasonality in production and weather conditions, and exposure to inherent cyclicality in demand and volatility in raw material prices.

In the absence of operations in the subsidiaries of AYCL, CRISIL Ratings has taken a standalone approach.

At around 2:14 PM, Andrew Yule & Company was trading at Rs27.75 apiece up by Rs3.25 or 13.27% on Sensex.

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