Credit rating agency, Credit Analysis & Research (CARE) has revised the rating assigned to the India Cements’ bank facilities. The credit rating agency has revised the short-term bank facilities from ‘A 1’ to ‘A2 +’.
India Cements is largest manufacturer of cement in South India. India Cements owns 28% of the market share and is leader in south India. The cement manufacturer aims 35% market share. It has distribution network of 10,000 stockists.