Credit rating agency, CARE has assigned ‘A1+’ rating to Chettinad Cement Corporation’s (CCCL) proposed commercial paper issue worth Rs 50 crore. The rating factors in the established track record of the company in the cement industry, benefit derived from being part of the Chettinad group, strong brand presence of the company in Kerala and Tamil Nadu, backward linkages with the availability of captive limestone mines and energy-efficient plants with the availability of captive power.
The ratings also take into account the progression of the company into a medium-sized player in cement industry while having been able to maintain its comfortable financial risk profile.
Chettinad Cement Corporation is engaged in production of cement, fused silca, silica and purity quartz grits. The manufacturing unit of the company is located at Puliyur, Karur an Industrially backward area in Tamil Nadu that commenced production in April 1968.
Company Name | CMP |
---|---|
Ultratech Cement | 9615.95 |
ACC | 2544.15 |
Shree Cement | 23924.00 |
Ambuja Cement | 633.20 |
Dalmia Bharat | 1811.50 |
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