Credit rating agency, CARE has assigned ‘D’ rating to Sundaram Multi Pap’s Long term bank facilities worth Rs 78.75 crore. The rating assigned to the bank facilities of Sundaram Multi Pap (SMPL) takes into account several delays in debt service obligations due to severe deterioration in liquidity profile and enhanced support to subsidiary business.
Sundaram Multi Pap (SMPL) is engaged in the manufacture of notebooks, account books, other paper stationery products, Kraft paper and trading of office paper stationery. Its operating facilities are located at Palghar, Nagpur and Kandla (SEZ facility). It sells its products in local as well as exports market.
