Acuite Ratings withdraws ratings on Beardsells bank facilities

9 Mar 2022 , 09:48 AM

The ratings agency has withdrawn the long term rating of ACUITE BB+ and short-term rating of ACUITE A4+ assigned to the bank facilities of Beardsell.

The companys total fund based facilities stood at Rs 25.69 crore and total non-fund based facilities were at 20 crore.

Beardsell is engaged in the manufacturing of different industrial products serving various customer segments. It operates through six business divisions: QuikBuild, Pre-Fabricated Structures, Clean Rooms, Packaging, Specialty & Defence, and Insulation.

On a consolidated basis, net profit of Beardsell declined 69.88% to Rs 0.50 crore on 26.75% rise in net sales to Rs 47.71 crore in Q3 December 2021 over Q3 December 2020.

Shares of Beardsell hit an upper circuit of 5% at Rs 17.41 on the BSE.

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