Credit rating agency, CARE has reaffirmed ‘A’ rating to CEAT’s long term bank facilities worth Rs 936.39 crore which was reduced from Rs 1,184.78 crore and ‘A1’ rating to company’s Short term Bank Facilities worth Rs 900.00 crore which was enhanced from Rs 675.00 crore.
The reaffirmation of ratings assigned to bank facilities of CEAT factors in healthy operational performance in FY14 (refers to the period April 01 to March 31) leading to improved financial risk profile. CEAT’s operating profitability in FY14 significantly improved aided by reduction in rubber prices and increased focus on radial tyres which fetch better realizations as compared to bias tyres.
Ceat is among the best tyre manufacturers in India. It manufactures a wide range of tyres for two-wheelers, three-wheelers, four-wheelers, tractors and tippers and trucks. Besides tyres, the company also manufactures and markets tubes and flaps.
| Company Name | CMP |
|---|---|
| MRF | 134392.80 |
| Apollo Tyres | 440.20 |
| Ceat | 3862.70 |
| Balkrishna Inds. | 2253.90 |
| JK Tyres & Inds. | 410.35 |
| View more.. | |
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