Credit rating agency, CARE has reaffirmed ‘A’ rating to Orient Abrasives’ long term bank facilities worth Rs 36.93 crore which was reduced from Rs 42.37 and ‘A1+’ rating to company’s Short term Bank Facilities worth Rs 5 crore which was reduced from Rs 12.30 crore. The company has received the ratings on the back of its experience of the promoters, established track record of operations, moderate position in the abrasives grain industry, operational efficiency on account of captive mines and power plants and healthy financial risk profile.
Orient Abrasives offers a wide range of Refractory and Monolithic products for the iron and steel industry and enjoy large domestic and international clientele. An in-house R&D facility supports the division’s product development initiatives.
