Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Hira Ferro Alloys’ long term bank facilities worth Rs 63.56 crore and ‘A3’ rating to company’s Short term Bank Facilities worth Rs 50 crore. The company has received the said ratings on the back of its experience of the promoters (Hira Group) and management in steel and ferro alloys industries, availability of captive source of power and comfortable capital structure of the company.
Hira Ferro Alloys is engaged in manufacturing of manganese based ferro alloys (mainly silico-manganese). It also sells surplus power on merchant basis from its 30MW power plants to optimise the profitability of the company. Presently, the company has a ferro-alloy plant (60,500 mtpa), a manganese ore briquette plant (115,000 mtpa), a fly-ash brick plant (108 mn units), a captive coal based power plant of 20 MW in Chattisgarh, 1.5 MW windmills in Karnataka and 8.5 MW biomass power plant in Chhattisgarh taking its total power generation capacity to 30 MW.
Company Name | CMP |
---|---|
Maithan Alloys | 1233.85 |
Indian Metal & Ferro | 723.70 |
Facor Alloys | 7.91 |
Shyam Century | 20.00 |
Indsil Hydro Power | 50.00 |
View more.. |