CARE reaffirms ratings of Magna Electro Castings’ bank facilities

15 May 2015 Evaluate

Credit rating agency, CARE has reaffirmed ‘BBB+’ rating to Magna Electro Castings’ long term bank facilities worth Rs 15.19 crore and ‘A2’ rating to company’s Short term Bank Facilities worth Rs 15.25  crore. The ratings assigned to the enhanced bank facilities of Magna Electro Castings (MECL) derive strength from the vast experience of the promoter, long operational track record of more than two decades in casting business, wellestablished manufacturing facilities with in-house machining capabilities and financial profile marked by consistent improvement in profit margins over the past three years ended March 2014 and comfortable gearing levels & debt coverage indicators.

Magna Electro Castings is in the business of Manufacturing and Supplying Ferrous Components in small and medium volumes to users worldwide. Magna specializes in the manufacture of Ductile Iron and Gray Iron casting in the weight range of 300 grams to a maximum of 2000 Kilograms. Magna also adds value by heat treatment, surface treatments and machining so that the products are ready to assemble.

Magna ElectroCasting Share Price

389.45 -16.55 (-4.08%)
08-Dec-2022 18:01 View Price Chart
Peers
Company Name CMP
Electrost Castings 39.60
Kirloskar Ferrous 326.95
Man Industries 81.60
Alicon Castalloy 1002.95
Nelcast 102.65
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