Credit rating agency, CARE has reaffirmed ‘B’ rating to Riga Sugar Company’s long term bank facilities worth Rs 140.73 crore and ‘A1+’ rating to company’s Short term Bank Facilities worth Rs 1.76 crore. The rating continues to be constrained by weak financial risk profile marked by high gearing ratios & erratic profitability margins, working capital intensive nature of the business, susceptibility of sugar industry to the vagaries of nature, cyclicality associated with the sugar industry and the regulated outlook of the same.
Riga Sugar Company (RSCL), the flagship company of Dhanuka Group, currently has Sugar Plant (5,500 TCD), Distillery (50 KLPD), Ethanol Plant (45 KLPD), Power plant (8 MW) & DAP/ Organic Fertilizer plant at Riga, North Bihar.
| Company Name | CMP |
|---|---|
| Shree Renuka Sugar | 29.16 |
| Bajaj Hindusthan Sug | 20.41 |
| Triveni Engg. & Inds | 407.05 |
| Balrampur Chini Mill | 525.15 |
| Dalmia Bharat Sugar | 386.05 |
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