2 May 2022 , 10:58 AM
CRISIL has reaffirmed the ratings assigned to the company’s debt instruments worth Rs18.50 crore.
The rating agency has reaffirmed the long-term rating for cash-credit worth Rs10 crore at ‘CRISIL A-‘ and has given a Stable outlook for the same. While short-term issuer ratings worth Rs8.50 crore are reaffirmed at ‘CRISIL A1’.
Also, CRISIL Ratings has withdrawn its rating on Rs51.5 crore of the proposed long-term bank loan facility at the company’s request. This is in line with the CRISIL Ratings policy on the withdrawal of bank loan ratings.
The ratings continue to reflect the adequate financial risk profile with ample liquidity, backed by steady accretion to reserve and no major debt-funded capital expenditure (CAPEX) plan. The ratings also factor in the sound marketing and distribution network. These strengths are partially offset by a limited product profile, exposure to intense competition, and susceptibility to regulatory changes.
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