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CARE revises ratings of Ambika Cotton Mills’ bank facilities

10 Nov 2014 Evaluate

Credit rating agency, Credit Analysis & Research (CARE) has revised rating of Ambika Cotton Mills’ long term bank facilities worth Rs 29.83 crore to ‘A’ from ‘A-’. The rating agency has also revised rating of company’s Long term/ Short term bank facilities worth Rs 325.00 crore to ‘A/A1’ from ‘A-/A2+’.

The revision in the ratings of Ambika Cotton Mills (ACML) factors in the continuous improvement in its capital structure predominantly supported by stable cash accruals generated from the business along with the prepayment of portion of term loans and improvement in the operational & financial performance of the company in FY14 (refers to the period April 1 to March 31) & Q1FY15.

Ambika Cotton Mills is a manufacturer of cotton yarn. Having commenced operations with an initial capacity of 6,048 spindles, ACML added capacity over the years and its manufacturing capacity stood at 109,872 spindles as on March 31, 2014, spread across four manufacturing units located at Kanniyapuram village, Dindigul district, Tamil Nadu. Of the available capacity, nearly 92% of the spindelage is towards the manufacture of compact yarn.

Ambika Cotton Mills Share Price

1437.20 12.20 (0.86%)
17-Apr-2026 16:59 View Price Chart
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