Credit rating agency, CARE has reaffirmed ‘BB’ rating to Hilton Metal Forging’s long term bank facilities worth Rs 4 crore and ‘A4’ rating to company’s Short term Bank Facilities worth Rs 30 crore. The ratings assigned to the bank facilities of Hilton Metal Forging (HMFL) continue to be constrained by the moderate scale of operations and working capital intensive nature of operations. The ratings further continue to be constrained by susceptibility of the profitability margins to volatile raw material prices, foreign exchange fluctuation risk and cyclical & competitive nature of the industry
HMFL is engaged in manufacturing of forged flanges and rings mainly for the non-automotive sectors such as oil & gas and petrochemical refineries. HMFL is also engaged in trading and scrap sales
