Credit rating agency, ICRA has reaffirmed LBBB rating for the Rs 50.67 crore bank facilities of Atlas Cycles Haryana (ACL) with stable outlook. The rating agency has also reaffirmed A3+ rating for the Rs 26.88 crore non fund based bank facilities of the company.
The rating reaffirmation factors in the company’s long track record of operations, its established brand - Atlas -- and increasing proportion of fancy bicycles, which is expected to help improve its profitability indicators and average realizations.
Atlas Cycles Haryana is engaged in manufacturing of bicycles with units located at Sonepat (Haryana), Sahibabad (Uttar Pradesh) and Malanpur (Madhya Pradesh) besides a steel tube manufacturing unit at Bawal (Haryana). The bicycle range covers from low range necessity bicycle to high-end bicycles including the e-Bike segment.
Company Name | CMP |
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Tube Investments | 3778.50 |
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