Ind Ra affirms Shree Renuka Sugars and its NCDs at 'A-/Positive'

23 Sep 2022 , 10:06 AM

India Ratings and Research (Ind-Ra) has affirmed Shree Renuka Sugars Limited’s (SRSL) Long-Term Issuer Rating and NCDs at ‘IND A-’. The Outlook is Positive.

Similarly, the short-term loan ratings affirmed at ‘IND A1’.

Ind-Ra continues to factor in SRSL’s strong legal, operational and strategic linkages with its ultimate parent, Wilmar International Limited (Wilmar), and the continued strong support that it receives from Wilmar to arrive at the ratings. 

The Positive Outlook reflects the likelihood of a sustained improvement in SRSL’s business profile with the doubling of its distillery capacity, rating agency said in the rationale report.

At around 10:04 AM, Shree Renuka Sugars Ltd is currently trading at Rs61 per share up by Rs0.8 or 1.33% from its previous closing of Rs60.20 per share on the BSE.

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