Credit rating agency, CARE has assigned ‘BBB-’ rating to Shri Jagdamba Polymers’ Long-term bank facilities worth Rs 6.80 crore. The rating agency has also assigned ‘A3’ rating to the company’s Short-term bank facilities worth Rs 9.50 crore.
The ratings take into account vast experience of promoters in woven fabrics and bags and geo-textile products manufacturing, favorable financial profile of the company with significant growth in sales during last few years, moderate profitability and overall gearing levels along with modest debt coverage indicators and established relationship with its overseas customers.
Shri Jagdamba Polymers is engaged in manufacturing of polypropylene (PP)/ Polyethylene (PE) woven sacks & fabric, geotextile products and various technical textile products which find its application in construction, infrastructure and packaging industry.
