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ICRA assigns ‘AA-’ rating to KRBL’s bank facilities

10 Sep 2014 Evaluate

Credit rating agency, ICRA has assigned the long term rating of ‘AA-’ for Rs 245.00 crore of bank limits and Rs 132.85 core of term loans of KRBL. Additionally, the rating agency has outstanding long term rating of ‘AA-’ for Rs 1330.00 crore fund based limits and Rs 237.82 crore of term loans and also has outstanding short term rating of ‘A1+’ for Rs 90 crore non-fund based limits and Rs 150 crore commercial paper programme of the company.

The ratings take into consideration the healthy growth in the company’s operating income (Rs 2,911 crore in FY2014 from Rs 2,081 crore in FY2013) driven by improved realizations and strong demand for basmati rice in both international and domestic markets and the same is expected to sustain in the near term.

KRBL manufactures products like rice bran oil, furfural and de-oiled cakes. The husk is utilized to extract furfural and the bran used to produce around 50 tonnes of rice bran. It has a total bran oil capacity of 42 MTPD and furfural of 10 MTPD.

KRBL Share Price

351.35 -2.80 (-0.79%)
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