Credit rating agency, CARE has reaffirmed ‘AA-’ rating to Cera Sanitaryware’s long-term bank facilities worth Rs 97.69 crore. The rating agency has also reaffirmed ‘A1+’ rating to the company’s short-term bank facilities worth Rs 25 crore.
The ratings of the company continue to take into account the steady growth in its scale of operations with a diversified product portfolio which is aided by a strong brand “CERA” and its robust distribution network. The ratings further draw strength from its healthy financial risk profile which is characterized by an effective working capital management along with comfortable leverage, liquidity and debt coverage indicators.
Cera Sanitaryware has emerged as the third largest player in the sanitary ware industry in India. The company enjoys 24% market share in the organized segment.
Company Name | CMP |
---|---|
Kajaria Ceramics | 1204.05 |
Somany Ceramics | 650.00 |
Cera Sanitaryware | 7180.00 |
Asian Granito India | 62.92 |
Pokarna | 467.00 |
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