CARE reaffirms 'A' rating on Precision Camshafts' long term bank facilities with stable outlook

11 Jan 2022 , 03:50 PM

Precision Camshafts Ltd has informed that CARE Ratings has issued its rating on Bank Facilities of the Company.

Long-term rating has been reaffirmed at CARE A/Stable while Short-term ratings has been reaffirmed to CARE A1.

As per rationale report, the reaffirmation of ratings on the bank loan facilities of Precision Camshafts Limited (PCL) continue to derive strength from promoters’ long-standing experience and PCL’s established track record in manufacturing of camshafts.

Further, the company has healthy financial position significantly supported by large cash & cash equivalents.

CARE Ratings has also taken cognizance of the investigation initiated on PCL by the Ministry of Corporate Affairs under Section 210 of Companies Act 2013.

On Tuesday, Precision Camshafts ended at Rs171.70 per piece higher by 2.29% on the BSE.