Credit rating agency, CARE has reaffirmed ‘A-’ rating to Star Ferro & Cement’s long term bank facilities worth Rs 17 crore and ‘A2+’ rating to company’s Short term Bank Facilities worth Rs 3 crore. The ratings continue to draw strength from experience of the promoters with long track record, satisfactory capacity utilisation, availability of captive power plant, comfortable leverage & debt coverage indicators and significant improvement in the financials during FY14.
Star Ferro and Cement (SFCL) is engaged in manufacturing of Ferro Silicon with a total capacity of 19,800 Metric tonnes per annum (MTPA) and has a captive power plant of 13.8 MW at Meghalaya. SFCL reported a PAT of Rs 15.7 crore on a total operating income of Rs 146.7 crore in FY14 (refers to the period April 1 to March 31).
