Ind Ra affirms Khaitan Chemicals and Fertilizers rating at 'A-' with stable outlook

19 Oct 2022 , 10:38 AM

India Ratings and Research (Ind-Ra) has affirmed Khaitan Chemicals and Fertilizers Limited’s (KCFL) Long-term Issuer Rating at ‘IND A-‘. The Outlook is Stable.

Further, the short-term rating has been affirmed to IND A2+.

KCFL has an established market position in the single super phosphate (SSP) segment with around 9% market share over FY17-FY22.

According to the rating rationale report, a higher-than-expected increase in the plant utilisations coupled with higher-than-expected margins, and timely receipt of subsidy leading to a comfortable working capital cycle all on a sustained basis would be positive for the ratings.

On Wednesday, at around 10:39 AM, Khaitan Chemicals & Fertilizers Ltd is currently trading at Rs75.10 per share up by Rs1.2 or 1.62% from its previous closing of Rs73.90 per share on the BSE.

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