India Ratings and Research (Ind-Ra) has assigned Khaitan Chemials and Fertilizers Limited (KCFL) a Long-term Issuer Rating of ‘IND A-’. The Outlook is Stable. Further, Ind Ra aslo assigned IND A2+ rating to the short-term bank facilities.
Ind-Ra has taken a standalone view of KCFL’s financials while arriving at the ratings.
Ind Ra expects that 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.
At around 1:55 PM, Khaitan Chemicals & Fertilizers was trading at Rs65.90 apiece up by Rs1.6 or 2.49% on Sensex.
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