Credit rating agency, ICRA has reaffirmed the long term rating assigned to the bank facilities of Munjal Auto Industries (MAIL) at LAA- for the Rs 62.9 crore term loans (enhanced from Rs 50.0 crore) and Rs 11.0 crore (reduced from Rs 14.7 crore) cash credit fund-based bank limits. The outlook on long term rating is stable. The rating agency has also reaffirmed an A1+ rating to Rs 11.1 crore non-fund based (reduced from Rs 14.3 crore), Rs.5.0 crore fund based short term bank facilities and Rs 15.0 crore commercial paper of the company.
The ratings continue to reflect the company’s sustained market share of supplies to its main customer HHML; comfortable financial risk profile stemming from its moderate gearing levels, strong liquidity position and healthy cash flow generation.
The company’s net profit for the fourth quarter has surged 125.95% at Rs 10.71 crore as compared to Rs 4.74 crore for the corresponding quarter previous year. Its net sales/income from operations has increased 114.16% at Rs 156.89 crore for the quarter under review from Rs 73.26 crore in the corresponding previous quarter.
| Company Name | CMP |
|---|---|
| SamvardhanaMotherson | 131.95 |
| Tube Investments | 3048.15 |
| Bosch | 38138.45 |
| UNO Minda | 1178.05 |
| CIE Automotive India | 474.85 |
| View more.. | |
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