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CARE reaffirms ratings of KIC Metaliks’ bank facilities

12 Nov 2014 Evaluate

Credit rating agency, CARE has reaffirmed ‘BB+’ rating to KIC Metaliks’ long term bank facilities worth Rs 47.25 crore and ‘A4’ rating to company’s Short term Bank Facilities worth Rs 32 crore. The ratings of KIC Metaliks continue to remain constrained by lack of backward integration leading to susceptibility of margins due to fluctuations in raw material prices, moderate financial risk profile which witnessed deterioration in FY14, working capital intensive nature of business, foreign exchange fluctuation risk, intense competition and cyclical nature of the iron and steel industry.

KIC Metaliks is engaged in manufacturing of pig iron and trading of coking coal & LAMC. This apart, it also operates a 4.7 MW waste heat based power plant used primarily for captive consumption.

KIC Metalik Share Price

34.85 3.07 (9.66%)
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