Credit rating agency, CARE has assigned ‘BB’ rating to Godavari Drugs’ Long-term bank facilities worth Rs 6 crore. The rating agency has also assigned ‘A4’ rating to the company’s Short-term bank facilities worth Rs 15 lakh.
The ratings assigned to the bank facilities of Godavari Drugs (GDL) are constrained by the relatively small scale of operation, concentrated revenue profile, moderate operating cycle period, accumulated loss in books and highly fragmented industry with many unorganised players
Godavari Drugs commenced business operation from 1989 with manufacturing of Active Pharmaceutical Ingredients (API), particularly Sulfamethoxazole, at its facilities (cGMP and WHO certified) located at Maharashtra Industrial Development Corporation Estate (MIDC) at Nanded, Maharashtra.
