Further, CRISIL Ratings has subsequently withdrawn the ratings on Rs630cr bank facilities, at the company’s request and on receipt of ‘No Dues Certificate’ from the lenders. The withdrawal is in line with CRISIL’s policy on withdrawal of bank loan ratings.
For fiscal 2022, CRISIL Ratings expects strong operating performance of its ferro alloys division, given the strong demand from steel sector coupled with high silico-manganese prices.
The captive power capacity should continue to support profitability in the ferroalloy segment.
The ratings continue to be supported by NBVL's integrated business operations (with captive power) for its silico manganese alloys and ferrochrome conversion business.
The financial risk profile is healthy, reflected in strong debt protection metrics, adequate liquidity, and comfortable capital structure.
However, the ratings are constrained by susceptibility to cyclicality in the ferroalloys and to fluctuations in power realisations and coal prices in NBEIL, and the significant investment in group entities, particularly Maamba Collieries Ltd (MCL).
At around 11:47 AM, Nava Bharat Ventures was trading at Rs113.40 per piece up by Rs0.75 or 0.67% on Sensex.