Sunshield Chemicals zooms ~2% as CRISIL assigns ‘BBB' ratings with stable outlook

2 May 2022 , 03:13 PM

Sunshield Chemicals informed that CRISIL has reviewed and rated the bank facilities of the company worth Rs65 crore.

The rating agency has reviewed the cash credit facility of the company worth Rs40 crore and has assigned a ‘CRISIL BBB’ rating with a stable outlook on the same.

CRISIL has affirmed the ‘CRISIL BB’ rating for the company’s Term Loan worth Rs25 crore, and a stable outlook.

The rating reflects the Established market position in the chemical industry, strong and diversified customer base, efficient working capital cycle, and comfortable financial risk profile. These strengths are partially offset by the moderate scale of operations amid intense competition, susceptibility to fluctuations in raw material prices.

Sunshield Chemicals Ltd is currently trading at Rs692.50 up by Rs12.65 or 1.86% from its previous closing of Rs679.85 on the BSE. It has touched intraday high and low of Rs697.90 and Rs670 respectively so far.