Credit rating agency, CARE has assigned ‘BB’ rating to Stone India’s long term bank facilities worth Rs 31.0 crore and ‘A4’ rating to Short-term Bank Facilities worth Rs 9.8 crore. The aforesaid ratings are constrained by company’s high customer concentration risk, tender based business - limiting the ability to pass on an increase in the raw material prices and moderate financial risk profile with high utilization of the working capital limits.
Stone India, a multi-product engineering company located in Kolkata, has been serving the Indian rail road industry for over seven decades.
