Credit rating agency, Credit Analysis & Research (CARE) has revised rating of Kothari Products’ long term bank facilities worth Rs 4.50 crore to ‘A-’ from ‘BBB+’. The rating agency has also revised rating of company’s short term bank facilities worth Rs 1495.50 crore to ‘A2+’ from ‘A3+’.
The revision in the ratings of bank facilities of Kothari Products (KPL) takes into account the improvement in the company’s financial risk profile with comfortable capital structure and moderate debt coverage indicators and healthy liquidity position. Furthermore, the ratings continue to derive comfort from the experience and resourcefulness of the company’s promoters, its diversified product profile, comfortable working capital cycle and limited inventory risk due to back to back trading arrangements.
Kothari Products is primarily engaged in international trading of various products and commodities which include coal, agro based commodities, steel, tiles and polyvinyl chloride (PVC). The company along with its subsidiaries and other promoter group entities is also engaged in real estate development and leasing.
| Company Name | CMP |
|---|---|
| Redington | 227.35 |
| Adani Enterprises | 2225.25 |
| Amrapali Industries | 17.27 |
| Rashi Peripheral | 474.40 |
| PDS | 291.45 |
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