Brickwork Ratings reviews the rating to the bank loan facilities of Rs Cr of Aarvee Denim and Exports Ltd.
|
|
- Jonah Warren
- 5 years ago
- Views:
Transcription
1 Rating Rationale Aarvee Denim and Exports Ltd. 8 March 2018 Brickwork Ratings reviews the rating to the bank loan facilities of Rs Cr of Aarvee Denim and Exports Ltd. Particulars Facility* Previous Limits Present Limits Term Loans Fund Based Working Capital Letter of Credit Tenure Long term Short Term Previous Rating (Nov 2016) (Pronounced as BWR A minus) Outlook - Stable BWR A2+ (Pronounced as A Two plus) Rating based on current review (Pronounced as BWR A minus) Outlook - Stable BWR A2+ (Pronounced as A Two plus) *Rs Crs (Three hundred Fifty Crore and Ninety Eight Lakhs Only) Total * Please refer to BWR website for definition of the ratings BWR has principally relied upon the Audited financial results of Aarvee Denim and Exports Ltd. (ADEL) upto FY 17, unaudited financial results for 9MFY18, publicly available information and information/clarification provided by the Company management. The rating continues to factor experienced team of promoters with established track record in denim industry coupled with integrated manufacturing facility and marketing & distribution network. Further, the ongoing capex program is expected to increase the realizations per meter in wider width fabric. The company is also in the process of improving quality of finished products which will also help in getting better prices. However, the rating is constrained by volatility in operating income and profitability due to the competitive industry scenario which is adding capacities, coupled with inherent risks associated with the textile industry including fluctuation in cotton prices and foreign exchange rates. Analytical Approach Key Risk Drivers for rating: Experienced and Qualified Management with established track record: ADEL is co-promoted by two promoter groups-arora group and Virendra Bhogilal (V.B) Group. Arora group has the experience in the business of marketing of Denim Fabrics over last three decades and VB group has a long standing experience in the textile segment spread over last 60 years. They are supported by well qualified and professional management team. 1 8 March 2018
2 Capacity Expansion: With a view to capitalize upon the significant growth opportunity in high quality premium denim fabric market, the company has planned to install latest technology based Wider Width Air Jet Looms by replacing 166 old Narrow Width Air Jet Looms, to be imported from Tsudakoma, Japan at an outlay of around Rs crores and the company proposes to fund this by way of foreign currency loan (ECBs) of US $6.75 million equivalent INR crores and the balance is proposed to be funded from internal cash accruals. This is expected to increase average realization from Rs.130 Rs.140 per meter ( narrow width fabrics) to Rs per meter in wider width fabric. The company is planning to complete the installation by August As such, operating performance of FY19 will reflect the benefits of this capex. Integrated Operations: ADEL is present across the textiles value chain right from yarn up to the weaving facilities of manufacturing a wide range of Denim and Non-Denim Fabrics, and processing. The company has integrated manufacturing facilities by way of 3 manufacturing plants located in and around Ahmedabad, comprising of one dedicated spinning plant, one weaving, processing and finishing plant and one fully integrated composite plant comprising of spinning, weaving and finishing facilities. Apart from the core manufacturing plants, the company has also installed windmills of aggregate capacity of 20.5 MW. Volatility in raw material prices: The margins of the company remain exposed to fluctuations in raw material prices which are a dependent on global commodity price movements. Variation in input costs cannot always be passed on immediately, but with a lag. Competitive nature of business: ADEL faces intense competitive pressures from both established and lower-end operators. Due to various incentives available for textile industry in the State of Gujarat, many companies are adding capacities or setting up new units. This could result in pressure on pricing/margins. Rating Outlook: Stable BWR believes the ADEL s business risk profile will be maintained over the medium term. The Stable outlook indicates a low likelihood of rating change over the medium term. The rating outlook may be revised to 'Negative' if the revenues go down and profit margins show lower than expected figures. About Aarvee Denim and Exports Ltd. (ADEL): Aarvee Denims and Exports Ltd (ADEL) is a leading player in the textile industry based in Ahmedabad. Established in 1988, it is promoted by Arora and VB Shah Group which has more than three decades of experience in textile industry. The company is listed on BSE. The company is a large producer of denim fabric in India with installed capacity of 85 million meters per annum (MMPA). It has modern and integrated manufacturing facilities across the textile value chain from 2 8 March 2018
3 spinning, weaving and processing. AarVee Denim is a listed company with 65.8% of the shares being held by the promoters. Financials: FY16 FY17 Particulars Audited Audited Total Operating Income OPBDIT PAT Total Debt Tangible Net Worth Total Debt / TNW Current Ratio Rating History for the last three years: (including withdrawn/suspended ratings) Sl. No. Instrument/ Facility 1. Fund Based Working Capital Limits 2. Term Loan Current Rating (Year 2018) Type (Long Term/Short Term) Long Term Long Term Amount Rating 2017 Reaffirmed - - Rating History Nov 30, 2016 BWR A- Aug 18, 2015 BWR A- 3. Letter of Credit Short Term BWR A2+ Reaffirmed - BWR A2+ BWR A2+ Total (Three hundred Fifty Crore and Ninety Eight Lakhs Only) Status of non-cooperation with previous CRA (if applicable): Reason and comments N/A Any other information: N/A 3 8 March 2018
4 Hyperlink/Reference to Applicable Criteria General Criteria Approach to Financial Ratios Manufacturing Sector For any other criteria obtain hyperlinks from website Analytical Contacts MSR Manjunatha Head Ratings Administration Media Relationship Contact Phone: For print and digital media The Rating Rationale is sent to you for the sole purpose of dissemination through your print, digital or electronic media. While it may be used by you acknowledging credit to BWR, please do not change the wordings in the rationale to avoid conveying a meaning different from what was intended by BWR. BWR alone has the sole right of sharing (both direct and indirect) its rationales for consideration or otherwise through any print or electronic or digital media. Note on complexity levels of the rated instrument: BWR complexity levels are meant for educating investors. The BWR complexity levels are available at Investors queries can be sent to info@brickworkratings.com. About Brickwork Ratings Brickwork Ratings (BWR), a SEBI registered Credit Rating Agency, has also been accredited by RBI and empaneled by NSIC, offers Bank Loan, NCD, Commercial Paper, MSME ratings and grading services. NABARD has empaneled Brickwork for MFI and NGO grading. BWR is accredited by IREDA& the Ministry of New and Renewable Energy (MNRE), Government of India. Brickwork Ratings has Canara Bank, a Nationalized Bank, as its promoter and strategic partner. BWR has its corporate office in Bengaluru and a country-wide presence with its offices in Ahmedabad, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata, Mumbai and New Delhi along with representatives in 150+ locations. BWR has rated debt instruments/bonds/bank loans, securitized paper of over 9,30,000 Cr. In addition, BWR has rated about 5000 MSMEs. Also, Fixed Deposits and Commercial Papers etc. worth over 19,700 Cr have been rated. Brickwork has a major presence in rating of nearly 100 cities. DISCLAIMER Brickwork Ratings (BWR) has assigned the rating based on the information obtained from the issuer and other reliable sources, which are deemed to be accurate. BWR has taken considerable steps to avoid any data distortion; however, it does not examine the precision or completeness of the information obtained. And hence, the information in this report is presented as is without any express or implied warranty of any kind. BWR does not make any representation in respect to the truth or accuracy of any such information. The rating assigned by BWR should be treated as an opinion rather than a recommendation to buy, sell or hold the 4 8 March 2018
5 rated instrument and BWR shall not be liable for any losses incurred by users from any use of this report or its contents. BWR has the right to change, suspend or withdraw the ratings at any time for any reasons. 5 8 March 2018
Rating Rationale Paswara Papers Ltd 28 May 2018
Rating Rationale Paswara Papers Ltd 28 May 2018 Brickwork Ratings revises the ratings for the Bank Loan Facilities of. 214.64 Crores of Paswara Papers Ltd. Particulars Facility Amount ( Crs) Rating* Previous
More informationSRG Housing Finance Limited
Rating Rationale SRG Housing Finance Limited August, 2017 Brickwork Ratings withdraws the existing rating of the NCD of Rs. 25.00 Cr of SRG Housing Finance Limited ( SHFL or the Company ) and assigns rating
More informationBAPL Rototech Pvt. Ltd. 4 May 2018 Brickwork Ratings assigns the rating to the bank loan facilities of Rs.21 Cr of BAPL Rototech Pvt. Ltd.
Rating Rationale BAPL Rototech Pvt. Ltd. 4 May 2018 Brickwork Ratings assigns the rating to the bank loan facilities of Rs.21 Cr of BAPL Rototech Pvt. Ltd. Particulars Facility* Fund Based Facility Limits
More informationRating Rationale Paswara Chemicals Ltd 18 May 2018
Rating Rationale Paswara Chemicals Ltd 18 May 2018 Brickwork Ratings assigns the ratings for the Bank Loan Facilities of. 16.00 Crores of Paswara Chemicals Ltd. Particulars Facility Fund based Cash Credit
More informationMahindra & Mahindra Financial Services Limited
Rating Rationale Mahindra & Mahindra Financial Services Limited 12 June 2017 Brickwork Ratings assigns rating for the Proposed Unsecured issue up to ` 2000 Crores and reaffirms the existing ratings for
More informationRating Rationale Sri Krishna Engineering & Construction co. 20Apr2018
Rating Rationale Sri Krishna Engineering & Construction co. Brickwork Ratings reaffirms the ratings for the Bank Loan Facilities of Rs 19.00 Crores of Sri Krishna Engineering & Construction co. Particulars
More informationRating Rationale Avon Fitness Machines Pvt. Ltd. 10 Aug 2017
Rating Rationale Avon Fitness Machines Pvt. Ltd. 10 Aug 2017 Brickwork Ratings reaffirms long-term rating and withdraws short-term rating for the bank loan facilities of Avon Fitness Machines Pvt. Ltd.
More informationRating Rationale Ecap Equities Ltd. 16 Nov Brickwork Ratings assigns Rating to the Proposed PP-MLD of Rs. 500 Cr of Ecap Equities Ltd.
Rating Rationale Ecap Equities Ltd. 16 Nov 2018 Brickwork Ratings assigns Rating to the Proposed PP-MLD of Rs. 500 Cr of Ecap Equities Ltd. (ECEL) Particulars Facility Proposed PP-MLD Amount (Rs. Crs)
More informationBhaskar Industries Private Limited
Rating Rationale Bhaskar Industries Private Limited 9 February 2017 Brickwork Ratings assigns Rating for the Non-Convertible Debenture Issue of Rs167.5 Cr of Bhaskar Industries Private Limited (BIPL) Particulars
More informationSRMB Srijan Private Limited (SSL)
Rating Rationale SRMB Srijan Private Limited (SSL) Brickwork Ratings assigns ratings for the Bank Loan Facilities of Rs. 326.23 Cr of 'SRMB Srijan Private Limited' (SSL or the 'Company') Particulars Facility
More informationMahindra and Mahindra Financial Services Ltd. 30 May 2018
Rating Rationale Mahindra and Mahindra Financial Services Ltd. 30 May 2018 Brickwork Ratings reaffirms BWR AAA (Stable) ratings for Mahindra and Mahindra Financial Services Ltd. s (hereafter referred to
More informationRating Rationale Friends Auto (India) Limited 10 Jan 2019
Rating Rationale Friends Auto (India) Limited 10 Jan 2019 Brickwork Ratings revises ratings to for the bank loan facilities of Rs. 47 Crs of Friends Auto (India) Limited. Particulars Facilities Availed
More informationEurotas Infrastructure Limited 10 th Aug 2017
Rating Rationale Eurotas Infrastructure Limited 10 th Aug 2017 Brickwork Ratings downgrades the rating for the Bank Loan Facilities of Rs. 331.06 Cr of Eurotas Infrastructure Limited. Particulars Facility
More informationBrickwork Ratings upgrades the ratings for the Non-Convertible Debentures of Crores by JSW Projects Limited
Rating Rationale JSW Projects Limited 14 May 2018 Brickwork Ratings upgrades the ratings for the Non-Convertible Debentures of. 850.00 Crores by JSW Projects Limited Particulars Instrument Issue Date Previous
More informationElecon Engineering Company Ltd.
Rating Rationale Elecon Engineering Company Ltd. 11 Dec 2018 Brickwork Ratings reviews the rating of the bank loan facilities of Rs. 1256.93 Cr and assigns rating to the proposed NCD issue of Rs.150 Cr
More informationRe: Update on Credit Rating
Vipul Vipul Limited Vipul TechSquare Golf-Course Road, Sector-43 Gurgaon - 122 009 Tel: -91-124-4065500 Fax: 91-124-406 1000 E-mail: info@vipulgroup.in www.vipulgroup.in Ref. No. VIPUIjSECjFY2018-19/'
More informationBrickwork Ratings (BWR) assigns the rating for the proposed facility of Capital First Limited ( CFL or the Company ) as detailed below:
Rating Rationale Capital First Limited July 1 Brickwork Ratings assigns rating for the proposed unsecured subordinated of Rs. Crores and reaffirms the existing ratings for the bank facilities and various
More informationIndian Receivable Trust 2019 Series 5 (Originator: Reliance Home Finance Limited)
Rating Rationale Indian Receivable Trust 2019 Series 5 (Originator: Reliance Home Finance Limited) 11 March 2019 The Ratings of BWR AAA (SO) for the Senior PTCs, issued by Indian Receivable Trust 2019
More informationRating Rationale Heritage Hospitals Limited 8 th Jan 2018
Rating Rationale Heritage Hospitals Limited Brickwork Ratings assigns rating for the Bank Loan Facilities amounting to Rs. 240.33 Crs of Heritage Hospitals Limited Particulars: *Please refer to BWR website
More informationRating Rationale. Shri Bajrang Power and Ispat Limited 5 Nov 2018
Rating Rationale Shri Bajrang Power and Ispat Limited 5 Nov 2018 Brickwork Ratings downgrade the rating to BB+ ()/ A4+ for Bank loan facilities amounting to Rs. 953 Cr of Shri Bajrang Power and Ispat Limited
More informationVastu Housing Finance Corporation Limited
Rating Rationale Vastu Housing Finance Corporation Limited 16 Aug 2018 Brickwork Ratings assigns and reaffirms rating for the various debt issues amounting to Rs. 900 Crores of Vastu Housing Finance Corporation
More informationBrickwork Ratings assigns the ratings for the Bank Loan Facilities of Crores of Rishabh Educational Trust.
Rating Rationale Rishabh Educational Trust 21 Dec 2018 Brickwork Ratings assigns the ratings for the Bank Loan Facilities of. 6.94 Crores of Rishabh Educational Trust. Particulars Facility Fund based Term
More informationRating Rationale Maharashtra Gramin Bank 17th July 2017
Rating Rationale Maharashtra Gramin Bank 17th July 2017 Brickwork Ratings (BWR) reaffirms rating for Maharashtra Gramin Bank s Perpetual Bond issue amounting to ` 10.25 Crores Particulars Instrument Issue
More informationRationale/Description of Key Rating Drivers/Rating sensitivities:
Rating Rationale Reliance Nippon Life Insurance Co. Ltd. 1 OCT 2018 Brickwork Ratings reaffirms the Enterprise-wide Risk Management (EWRM) and Financial Strength rating of AAA efs for Reliance Nippon Life
More informationRating Rationale Sahyadri Agencies Ltd. 29 Nov 2018
Rating Rationale Sahyadri Agencies Ltd. 29 Nov 2018 Brickwork Ratings assign rating for the Non-Convertible Debentures Issue of. 150.00 Crores and reaffirms for the Non-Convertible Debentures Issue of.
More information` 750 Cr (out of the rated amount of ` 1500 Cr due to non-utilization)
Rating Rationale Punjab National Bank 05 th July Brickwork Ratings () assigns rating for Punjab National Bank s proposed fresh issue of Basel III compliant Additional Tier I Bond amounting to ` 3000 Crores,
More informationRating Rationale Future Corporate Resources Private Limited (Formerly known as Suhani Trading & Investment Consultants Pvt. Ltd.)
Rating Rationale Future Corporate Resources Private Limited (Formerly known as Suhani Trading & Investment Consultants Pvt. Ltd.) 25 Jan 2019 Brickwork Ratings reaffirms ratings for the Non-Convertible
More informationBrickwork Ratings reaffirms ratings for the Non-Convertible Debentures/Bonds Issue of Crores of Dolvi Minerals & Metals Pvt. Ltd.
Rating Rationale Dolvi Minerals & Metals Pvt. Ltd. 30 th March 2019 Brickwork Ratings reaffirms ratings for the Non-Convertible Debentures/Bonds Issue of 700.00 Crores of Dolvi Minerals & Metals Pvt. Ltd.
More informationBrickwork Ratings assigns Rating for the Non-Convertible Debenture Issue of Rs. 160 Cr of Writers and Publishers Private Limited (WPPL) Particulars
Rating Rationale Writers and Publishers Private Limited 15 May 2018 Brickwork Ratings assigns Rating for the Non-Convertible Debenture Issue of Rs. 160 Cr of Writers and Publishers Private Limited (WPPL)
More informationLong Term. Outstanding Reaffirmed as follows Information about other outstanding ratings of the issuer with BWR is as follows
Rationale Ma Multi Trade Private Limited 23 February 2017 Brickwork s assigns for the Non-Convertible Debenture Issue up to Rs525Cr of MA Multi Trade Private Limited (MMTPL) issued in two tranche. Particulars
More informationWriter and Publisher Private Limited
Rating Rationale Writer and Publisher Private Limited 9 February 2017 Brickwork Ratings assigns Rating for the Non-Convertible Debenture Issue of Rs244.80 Cr of Writer and Publisher Private Limited (WPPL)
More informationRationale/Description of Key Rating Drivers/Rating sensitivities:
Rating Rationale Indiabulls Housing Finance Ltd. 2 May 2018 Brickwork Ratings reaffirms the ratings for various existing debt issues of Indiabulls Housing Finance Ltd aggregating to 37,150 crs. Particulars
More informationLong Term. Short Term. Total Rated Limits INR One Hundred Thirty Crores and Twenty Four Lakhs Only
Rating Rationale Brickwork Ratings revises the ratings to BWR A- & BWR A2+ of Go Go International Private Limited s Bank Loan Facilities enhanced from 112.47 Cr to 13.24 Cr Brickwork Ratings has revised
More informationOn a review of the performance of the Bank, Brickwork Ratings has reaffirmed the Rating 1 for the following instruments of Andhra Bank.
Annual Surveillance - Rating Rationale Brickwork Ratings reaffirms the Bond Ratings for Andhra Bank s Upper Tier II issue aggregating 1000 Cr, Perpetual Tier I issue of 200 Cr and Lower Tier II issue of
More informationAmount ( Cr) Tenure years years
Rating Rationale Brickwork Ratings assigns rating to IIFCL Mutual Fund Infrastructure Debt Fund Series- II aggregating 1500 Cr and reaffirms rating to IIFCL Mutual Fund Infrastructure Debt Fund Series-
More informationRating Rationale. Background
Rating Rationale Brickwork Ratings Assigns BWR AA+ (SO) for the Proposed Structured Redeemable Share Pledge Backed Non-Convertible Debenture issue aggregating `650 Cr of AAA Enterprises Pvt Ltd. Brickwork
More informationPress Release. Golden Terry Towel Private Limited July 17, 2018 Rating Reaffirmed
Press Release Golden Terry Towel Private Limited July 17, 2018 Rating Reaffirmed Total Bank Facilities Rated* Rating Short Term Rating * Refer Annexure for details Rating Rationale Rs. 80.32 Cr. ACUITE
More informationBrickwork Ratings upgrades the ratings from BWR BBB+ to BWR A- for Lakshmi Vilas Bank s Long Term Bonds Issue of `250 Crore
Rating Rationale Brickwork Ratings upgrades the ratings from BWR BBB+ to BWR A- for Lakshmi Vilas Bank s Long Term Bonds Issue of `250 Crore Brickwork Ratings revises the Ratings 1 for Long Term Bonds
More informationPress Release. Textrade International Limited. 03 May, Rating Assigned. Rating Rationale
Press Release Textrade International Limited 03 May, 2018 Rating Assigned Total Bank Facilities Rated* Long Term Rating Short Term Rating * Refer Annexure for details Rs. 225.00 Cr. Outlook: Stable SMERA
More informationPress Release METAROLLS ISPAT PRIVATE LIMITED (PREVIOUSLY META ROLLS AND COMMODITIES PRIVATE LIMITED) November 02, 2018.
Total Bank Facilities Rated* Long Term Rating Press Release METAROLLS ISPAT PRIVATE LIMITED (PREVIOUSLY META ROLLS AND COMMODITIES PRIVATE LIMITED) November 02, 2018 Rating Reaffirmed Rs. 105.00 Cr. Outlook:
More informationPress Release K R SOLVENT
Press Release K R SOLVENT 22 March, 2018 Rating Assigned Total Bank Facilities Rated* Rs. 20.00 crore Long Term Rating SMERA BB+/ Stable Short Term Rating SMERA A4+ *Refer annexure for details SMERA has
More informationSKS Textiles Limited (NSE SME)
SKS Textiles Limited (NSE SME) IPO Fact Sheet SKS Textiles Ltd. Opening Date January 9 th, 2018 Closing Date January 11 th, 2018 BRLMs Aryaman Financial Services Issue Size Rs. 13.32 Crores Shares 8.88
More informationKG Denim Ltd BSE Scrip Code:
KG Denim Ltd BSE Scrip Code: 500239 Textiles September 24, 2012 Equity Statistics Current Market Price Rs. 52 Week High / Low Rs. Market Capitalisation Rs. crores Free Float Rs. crores Dividend Yield %
More informationMSE Ratings. Micro, Small & Medium Enterprises Ratings
MSE Ratings Micro, Small & Medium Enterprises Ratings TM Promoted by About Brickwork Ratings Brickwork Ratings, a credit rating agency founded by bankers, former regulators, and credit rating professionals,
More informationPress Release. TDB Spinners Private Limited. May 10, Rating Downgraded. Rating Rationale
Press Release TDB Spinners Private Limited May 10, 2018 Rating Downgraded Total Bank Facilities Rated* Rating * Refer Annexure for details Rating Rationale Rs. 11.00 Cr. SMERA B+ / Outlook: Stable (Downgraded
More informationInfomerics Valuation And Rating Pvt. Ltd.
Press Release Deevya Shakti Paper Mills Pvt. Ltd February 11, 2019 Rating Instrument / Facility Amount (Rs. crore) Rating Fund Based 36.00 IVR A- with Stable Outlook/IVR A2+ (IVR Single A Minus with Stable
More informationInfomerics Valuation And Rating Pvt. Ltd.
Press Release M/s Gemini Fashion September 11, 2018 Ratings Sl. No. Instrument/Facility Amount (Rs. Crore) Rating Assigned Rating Action 1. Long Term Fund Based Limits 2. Working Capital Demand Loan Total
More informationInfomerics Valuation And Rating Pvt. Ltd. Press Release
Press Release Bravo Sponge Iron Private Limited March 25, 2019 Instrument / Facility Amount (Rs. crore) Bank Facilities Long 174.50 proposed limits of Rs.35 crore) Bank Facilities Short 40.50 proposed
More informationFrequently Asked Questions (FAQ) on Credit Ratings
TM SEBI Registered RBI Accredited NSIC Empanelled Frequently Asked Questions (FAQ) on Credit Ratings 1. What is a Credit Rating? A Credit Rating is an opinion about whether an issuer of a credit commitment,
More informationInfomerics Valuation And Rating Pvt. Ltd.
Press Release Intex Technologies (India) Limited January 22, 2019 Ratings Sl. Instrument/Facility No. 1. Long Fund Based Limits 2. Long Debt- Loan 3. Long Non- Fund Based 4. Short Non- Fund Based Total
More informationL&T Investment Management Limited
Summary of rated instruments L&T Investment Management Limited June 14, 2018 Instrument Current Rated Amount (Rs. crore) Rating Action L&T Triple Ace Bond Fund - ; reaffirmed L&T Short Bond Fund 1 - ;
More informationInfomerics Valuation And Rating Pvt. Ltd.
Press Release Usha Financial Services Private Limited November 21, 2018 Rating Instrument / Facility Term Loan Amount Rating Rating Action 100.00 (including proposed term loan of Rs.57.37crore) IVR BBB-/Stable
More informationJet Airways (India) Limited
Summary of rating action Instrument* Nonconvertible Debenture Programme Longterm Loans Longterm, Fundbased Longterm, Shortterm, Jet Airways (India) Limited December 07, 2018 Previous Rated Amount (Rs.
More informationBank of India. July 27, Rating Action (Rs. crore) Term Deposit Programme - - MAA+(Negative); reaffirmed Total - -
Summary of rated instrument Bank of India July 27, 2018 Previous Rated Amount Current Rated Amount Instrument Rating Action (Rs. crore) (Rs. crore) Term Deposit Programme - - (Negative); reaffirmed Total
More informationJet Airways (India) Limited
Jet Airways (India) Limited January 02, 2019 Summary of rating action Instrument* Nonconvertible Debenture Programme Longterm Loans Longterm, Fundbased Longterm, Shortterm, Previous Rated Amount (Rs. crore)
More informationPress Release. ITI Limited. 8 December, Rating Reaffirmed. Rating Rationale
Press Release ITI Limited 8 December, 2017 Total Bank Facilities Rated* Long Term Rating Short Term Rating * Refer Annexure for details Rating Reaffirmed Rating Rationale Rs. 1925.00 Cr. Outlook: SMERA
More informationPress Release JAGDISH PRASAD AGARWAL MARCH 24, Rating Assigned
Press Release JAGDISH PRASAD AGARWAL MARCH 24, 2018 Rating Assigned Total Bank Facilities Rated* Long Term Rating Short Term Rating * Refer Annexure for details Rating Rationale Rs.17.00 Cr. SMERA B+/
More informationPress Release. Schiller Healthcare India Private Limited (SHIPL) 22 June, Rating Reaffirmed. Rating Rationale
Press Release Schiller Healthcare India Private Limited (SHIPL) 22 June, 2017 Rating Reaffirmed Total Bank Facilities Rated* Long Term Rating Short Term Rating *Refer Annexure for details Rs.53.50 Cr Rating
More informationInfomerics Valuation and Rating Pvt Ltd
Press Release Himadri Speciality Chemical Ltd March 28, 2017 Rating Instrument Amount Rating Rating Action Commercial Paper Rs.25.00 crores IVR A1+ (pronounced Assigned (carved out of the tiedup fund based
More informationPress Release. Future Retail Limited (FRL) 09 March, Rating Reaffirmed. Rating Rationale
Press Release Future Retail Limited (FRL) 09 March, 2018 Total Instruments Rated* Rating * Refer Annexure for details Rating Reaffirmed Rating Rationale Rs. 1250 Cr. SMERA has reaffirmed the short term
More informationS R K Industries Ltd. BSE Scrip Code:
S R K Industries Ltd. BSE Scrip Code: 531307 Textiles March 15, 2013 Equity Statistics Current Market Price Rs. 28.4 52 Week High/Low Rs. 32.65/2.90 Market Capitalisation Rs. Crores 10.71 Free Float Rs.
More informationInfomerics Valuation And Rating Pvt. Ltd. Press Release
Press Release Anindita Steels Limited October 22, 2018 Rating Instrument / Facility Amount (Rs. crore) Ratings Long Bank Facilities 26.68 IVR BBB- /Stable (IVR Triple B Minus with Stable ) Short Bank Facilities
More informationPress Release. OPGS Power Gujarat Private Limited (OPGS) 28 September, Rating Assigned
Press Release OPGS Power Gujarat Private Limited (OPGS) 28 September, 2017 Rating Assigned Total Bank Facilities Rated* Long Term Rating Short Term Rating Rs. 2059.00 Cr (Assigned) (Assigned) *Refer Annexure
More informationVolant Textile Mills Ltd BSE Scrip Code:
Volant Textile Mills Ltd BSE Scrip Code: 531865 Textiles October 09, 2012 Equity Statistics Current Market Price Rs. 3.11 52 Week High/Low Rs. 3.55/1.34 Market Capitalisation Rs. Crores 23.31 Free Float
More informationInfomerics Valuation And Rating Pvt. Ltd. Press Release
Press Release Rating Instrument / Facility IFGL Refractories Limited Amount (Rs. Crore) Long Term Bank Facility Term Loan 40 Total 40 Details of Facilities are in Annexure 1 May 31, 2018 Rating IVR AA
More informationInfomerics Valuation And Rating Pvt. Ltd
Rating Instrument / Facility Fund Based Facilities Non-Fund Based Facilities Total 250.00 Details of Facility are in Annexure 1 Press Release Glass Wall Systems (India) Private Limited April 16, 2018 Amount
More informationSoorty Enterprises (Private) Limited
RATING REPORT REPORT DATE: December 31, 2018 RATING ANALYSTS: Talha Iqbal talha.iqbal@jcrvis.com.pk Asfia Aziz asfia.aziz@jcrvis.com.pk RATING DETAILS APPLICABLE METHODOLOGY(IES) Applicable Rating Criteria:
More informationNHPC Limited. March 29, 2018
NHPC Limited March 29, 2018 Summary of rated instruments Instrument* Previous Rated Amount (Rs. crore) Long term bonds programme 6250.00 6250.00 Total 6250.00 6250.00 *Instrument details are provided in
More informationInfomerics Valuation And Rating Pvt. Ltd
Rating Instrument / Facility Fund Facilities Term Loans Based Non-Fund Based Facilities Total 48.72 Press Release Deevya Shakti Paper Mills Pvt Ltd. January 18, 2018 Amount Rating Rating Action (Rs. Crore)
More informationRating Rationale. 1 Please refer to for definition of the Ratings
Rating Rationale Brickwork Ratings reaffirms the rating of BWR AA for Bangalore Metro Rail Corporation Limited s Long Term Secured Non-Convertible Redeemable Debentures (NCDs) issue of ` 500 Cr having
More informationInfomerics Valuation And Rating Pvt. Ltd.
Press Release VRKP Steel Industries Pvt. Limited July 20, 2018 Instrument / Facility Amount (Rs. Crore) Issuer NA IVR BB + [Is] /Stable (IVR Double B Plus [Is] with Stable Outlook) Action Assigned Detailed
More informationInfomerics Valuation And Rating Pvt. Ltd.
Infomerics Valuation And Pvt. Ltd. Indiabulls Liquid and Indiabulls Short (Indiabulls Asset Management Company Limited) November 21, 2018 Scheme Name Action Indiabulls Liquid ( Triple A mfs) Reaffirmed
More informationWires & Fabriks (SA) Limited BSE Scrip Code:
Wires & Fabriks (SA) Limited BSE Scrip Code: 507817 Textiles September 17, 2012 Equity Statistics Current Market Price Rs. 77.0 52 Week High / Low Rs. 106.80/68.50 Market Capitalisation Rs. crores 23.5
More informationInfomerics Valuation And Rating Pvt. Ltd.
Press Release Ratings Waaree Energies Ltd. December 8, 2017 Instrument / Facility Amount Rating Rating Action Long-Term Non- Rs.45.00 crores IVR BB+/Stable Assigned Convertible Debentures Series I (IVR
More informationSoma Textiles & Industries Ltd
31 st May, 2016 TABLE 1 MARKET DATA (STANDALONE) (As on 31 st May, 2016) NSE Code SOMATEX NSE Market Price ( ) 5.80 NSE Market Cap. ( Cr.) 17.54 Sector Textiles Face Value ( ) 10.00 Equity ( Cr.) 33.03
More informationInfomerics Valuation And Rating Pvt. Ltd.
Press Release Rating Instrument / Facility Proposed Paper Commercial Unimed Technologies Ltd. December 31, 2018 Amount Rating 500.00 Provisional IVR A1+ (SO) (Provisional IVR A One Plus (Structured Obligation))
More informationInfomerics Valuation and Rating Pvt. Ltd
Press Release Worlds Window Impex India Pvt. Ltd. February 16, 2018 Ratings Instrument / Facility Amount (Rs. crore) Long Term Fund based 195.50 facilities- Cash Credit 10.50 crore) Short Term Fund based
More informationEdelweiss Custodial Services Limited
Edelweiss Custodial Services Limited July 16, 2018 Summary of rated instruments Instrument * Previous Rated Amount (Rs. crore) Long-term/Short-term Non-fund Based 3,500.00 3,500.00 Bank Lines Total 3,500.00
More information*The Company raised Rs. 10,000 crores in the Tranche 1 Issue.
TRACK RECORD OF THE PUBLIC ISSUES MAGED BY ICICI BANK LIMITED AS A MERCHANT BANKER IN CURRENT FINCIAL YEAR DEWAN HOUSING FINCE CORPORATION LIMITED 1. Type of Issue Public Issue by Dewan Housing Finance
More informationInfomerics Valuation And Rating Pvt. Ltd.
Ratings Sl. Instrument/Facility No. 1. Long Term Debt - Term Loan 2. Long Term Fund Based Limits Press Release Bhunit Engineering Company Private Limited January 17, 2019 Amount Rating Assigned (Rs. Crore)
More informationMadura Micro Finance Limited
Madura Micro Finance Limited August 20, 2018 Summary of rated instruments Instrument* Previous Rated Amount Subordinated 50.00 50.00 - Loans from Banks 300.00 300.00 Non-convertible 36.60 36.60 Non-convertible
More informationPavathal Spinning Mills Private Limited
Ratings Pavathal Spinning Mills Private Limited December 27, 2017 Amount (Rs. crore) Ratings 1 Remarks Long-term Bank 10.42 (reduce from 11.11) CARE BB+; Stable (Double B Plus; Outlook:Stable) Reaffirmed
More informationInfomerics Valuation And Rating Pvt. Ltd.
Ratings Sl. Instrument/Facility No. 1. Long Term Fund Based Limits 2. Short Term Non-Fund Based Limits 3. Working Capital Demand Loan Press Release GMR Energy Trading Limited April 16, 2019 Amount Rating
More informationPress Release. Shah Sponge & Power Limited (SSPL) 05 February, Rating Assigned. Total Bank Facilities Rated*
Press Release hah ponge & Power Limited (PL) 05 February, 2018 Rating Assigned Total Bank Facilities Rated* Rs. 48.00 Cr. Long Term Rating MERA BBB / Outlook: table hort Term Rating MERA A3+ * Refer Annexure
More informationInfomerics Valuation And Rating Pvt. Ltd. Press Release
Press Release Instrument / Facility Non-Convertible Debentures (Proposed) Mangalam Cement Limited April 09, 2018 Amount (Rs. Crore) 250 Total 250 Details of Facilities are in Annexure 1 IVR AA- /Stable
More informationInfomerics Valuation And Rating Pvt. Ltd.
Press Release Alstrong Enterprises IndiaPvt. Ltd. March 08, 2018 Ratings Instrument / Facility Amount (Rs. crore) Rating Long Term Fund based 100.00 IVR A-/Stable Outlook facilities- Cash Credit (including
More informationSREI EQUIPMENT FINANCE LIMITED
INVESTMENT RATIONALE SREI EQUIPMENT FINANCE LIMITED The issue offers effective yields ranging from 8.63 % to 9.77% depending up on the Category of Investor and the option applied for. Credit Rating of
More informationUpdate for Quarter and Year ended 31 st March, 2012
Independent Equity Research Other Agricultural Products BSE Scrip Code: 524226 CMP Rs. 20.5 1 July 9, 2012 Update for Quarter and Year ended 31 st March, 2012 Decline in revenue in Q4FY12 For Q4FY12 (refers
More informationRESULTS PRESENTATION Q3FY11
RESULTS PRESENTATION Q3FY11 CONTENTS 1. HIGHLIGHTS 2.BUSINESS WISE PERFORMANCE 3.WAY FORWARD 4.FINANCIAL RESULTS 2 DISCLAIMER 1. Statements in this Presentation describing the Company s objectives, projections,
More informationTelephones NAYAN M. VALA SECURITIES PVT. LTD /74/ / , Cosmos Court
Key Indicators as on 20/07/2010 Closing Price (`) 38.50 EPS (`) 1.2 P/E 32.58 BV per Share (`) 57.20 PB 0.69 Mkt Cap (` Crore) 379.06 EBDITA (` Crore) FY10 107.58 Equity Capital (` Crore) 49.23 FV (`)
More informationInfomerics Valuation And Rating Pvt. Ltd
Rating Press Release India Mega Agro Anaj Limited May 17, 2018 Sl. No. Instrument/Facility Amount (Rs. Crores) 1. Long Term Fund Based Limits -Cash Credit 2. Long Term Bank Facilities - Term Loan Total
More informationSMERA Weekly Report: Sector Analysis (Textiles)
SMERA Weekly Report: Sector Analysis (Textiles) As the global economy slows down and China scrambles to safeguard its faltering manufacturing sector, SMERA estimates that difficult conditions in the cotton
More informationArtistic Denim Mills Limited
Rating Report RATING REPORT REPORT DATE: May 7, 2018 RATING ANALYSTS: Talha Iqbal talha.iqbal@jcrvis.com.pk Asfia Aziz asfia.aziz@jcrvis.com.pk RATING DETAILS Rating Category Latest Rating Long-term Short-term
More informationAnnapurna Finance Private Limited
Summary of rated instruments Annapurna Finance Private Limited June 22, 2018 Instrument Previous Rated Amount Current Rated Amount (Rs. crore) Rating Action (Rs. crore) Term Loan 697.22 + (Stable); Upgraded
More informationInfomerics Valuation And Rating Pvt. Ltd.
Press Release Rean Watertech Private Ltd. September 4, 2017 Rating Instrument / Facility Long/Short-term Bank Facilities Long term Bank Facilities Amount Rating Rating Action Rs.5.85 crores Rs.46.15 crores
More informationReliance Nippon Life Asset Management Limited
Summary of rated instruments Reliance Nippon Life Asset Management Limited August 30, 20 Instrument Current Rated Amount(Rs. crore) Rating Action Reliance Banking & PSU Debt Fund m; reaffirmed Reliance
More informationBDH Industries Limited BSE Scrip Code:
BDH Industries Limited BSE Scrip Code: 524828 Pharmaceuticals October 23, 2012 Equity Statistics Current Market Price Rs. 16.95 52 Week High/Low Rs. 21.00/13.15 Market Capitalisation Rs. Crores 9.76 Free
More informationIndia Infoline Limited
Public Issue of Unsecured Subordinated Redeemable Non-Convertible Debentures of Mahindra & Mahindra Financial Services Limited Issue Period : July 10, 2017 July 28, 2017 INVESTMENT RATIONALE Mahindra &
More informationPress Release. Patel Engineering Limited (PEL) July 20, Rating Assigned
Press Release Patel Engineering Limited (PEL) July 20, 2018 Rating Assigned Total Bank Facilities Rated* Long Term Rating Short Term Rating * Refer Annexure for details Rating Rationale Rs. 6,215.00 Cr.
More informationHigh Breetd Fashions January 17, 2019
Rating Facilities Short-term Bank Facilities Total Facilities High Breetd Fashions January 17, 2019 Amount Ratings 1 9.50 CARE A4 ( A Four) 9.50 (Rupees Nine Crore and Fifty Lakh only) Remarks Reaffirmed
More information