22 Jul 2022 , 01:23 PM
The rating agency has reviewed fund-based limits of the company worth Rs140 crore, which has been enhanced from the existing Rs125 crore. The non-fund-based limits reviewed are worth Rs11 crore, and long-term loans are Rs25.40 crore.
For the ratings, Ind-Ra continues to take a consolidated view of CAL and its 99.9% subsidiary, Campus AI Private Limited (‘IND A+’/Stable), collectively referred to as the Campus Group, because both entities have strong legal, operational, and strategic ties and are engaged in the same line of business of manufacturing footwear under the Campus brand. The entities will be merged over the next six months, according to management.
The Outlook revision reflects the portfolio’s continued premiumization, which resulted in a significant increase in revenue and EBITDA during FY22, with the likelihood of the growth continuing into FY23 while maintaining a strong credit profile.
Furthermore, the company’s corporate governance and financial disclosures have improved since its initial public offering and listing in May 2022.
At around 1.29 PM, Campus Activewear was trading at Rs376.45, up by 0.093% against previous close of Rs376.10 on NSE. It touched intraday high and low of Rs378.40 and Rs371.30 respectively.
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