Credit rating agency, CARE has reaffirmed ‘A1+’ rating to HSIL’s Commercial Paper (CP) issue worth Rs 200 crore. The ratings continue to derive strength from the experience of the promoters, established track record of operations of the company with a strong market position in building products and glass container segment, wide product portfolio and stable financial profile. The ratings also derive strength from the established brand name and strong marketing and distribution network.
HSIL is one of the leading domestic players in container glass and building products segments. Under the second segment, the company manufactures and trades in sanitaryware products, faucets and wellness products. It has five manufacturing facilities in India, of which three are located in Andhra Pradesh, one in Rajasthan and one in Haryana.