CRISIL assigns Long term Credit Rating of A to Gokaldas Exports

18 Jul 2022 , 12:56 PM

Gokaldas Exports Limited informed that CRISIL Ratings Limited assigned the credit rating to the Long-term and Short-term Bank Facilities of the company.

The rating agency has reviewed total bank facilities worth Rs425 crore.

CRISIL has assigned a long-term rating of ‘CRISIL A’ to the company’s bank facilities. Further, it has assigned a ‘Positive’ outlook on the same.

It has given a ‘CRISIL A1’ Short-term rating to the company.

The rating is based on GEL’s established market position and long track record in the apparel industry, as well as its comfortable working capital cycle, a well-established customer base that allows for geographical diversification of revenues, and strong financial risk profile.

These advantages are offset in part by its presence in a highly fragmented industry with limited size and the vulnerability of operating margins to currency fluctuations.

Gokaldas Exports is currently trading at Rs319 down by Rs1.05 or 0.33% from its previous closing of Rs320.05 on the BSE. The scrip opened at Rs310.30 and has touched a high and low of Rs319.80 and Rs309.15 respectively.