Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Shaily Engineering Plastics’ long-term bank facilities worth Rs 86.46 crore which was enhanced from Rs 70.30 crore. The rating agency has also reaffirmed ‘A3’ rating to the company’s short-term bank facilities worth Rs 22.50 crore.
The ratings of Shaily Engineering Plastics (Shaily) continues to derive strength from its long and established track record in plastic injection molding business, experienced promoters, reputed clientele across diverse end-use industries, growing demand for plastic with its increased usage in various industries and improved profitability during FY14 (refers to the period April 1 to March 31)
Shaily Engineering Plastics is engaged in manufacturing of injection moulded plastic components and subassemblies for various requirements of Original Equipment Manufacturers (OEM). It also offers secondary operations in plastics like vacuum metalizing, hot stamping, ultrasonic welding etc.
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