CRISIL reaffirms ‘A1+' rating of Godrej Agrovet's Commercial Papers

27 May 2022 , 03:54 PM

Godrej Agrovet Limited informed that CRISIL Ratings has reaffirmed its ‘CRISIL A1+’ rating on the company’s Commercial Paper.

The rating agency has reviewed Commercial Papers worth Rs1,000 crore.

According to the rating rationale by the CRISIL, the rating factors in the diversified and healthy business risk profile of GAL which has a presence in the animal feed, palm oil, crop protection, dairy, poultry, and processed foods segments. The company is one of the leading players in the domestic organized animal feed industry and also enjoys a substantial market share in the palm oil segment.

The rating also factors in the company’s strong financial risk profile supported by healthy debt protection metrics, low gearing levels, and healthy return indicators. The rating further factors in the financial flexibility enjoyed by GAL being part of the Godrej group.

Godrej Agrovet ended at Rs526.20 down by Rs0.05 or 0.01% from its previous closing of Rs526.25 on the BSE.