Credit rating agency, CARE has reaffirmed ‘BB+’ rating to Investment & Precision Castings’ long term bank facilities worth Rs 33.05 crore and ‘A4+’ rating to company’s Short term Bank Facilities worth Rs 4 crore.
The ratings continue to be constrained by the relatively small scale of operations of Investment & Precision Castings (I&PCL) along with its high customer concentration and linkages with the cyclical automobile industry. The ratings are further constrained by its working capital intensive operations with an elongated operating cycle, susceptibility to volatile raw material prices and implementation & salability risks associated with its planned project.
Investment & Precision Castings is a fully equipped investment casting foundry with conventional machining facilities and state-of-the-art CNC Machine Shop. It supplies fully machined ready to use parts to automotive and other customers.