Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Neuland Laboratories’ long-term bank facilities worth Rs 175.51 crore. The rating agency has also reaffirmed ‘A3’ rating to the company’s short-term bank facilities worth Rs 72.40 crore.
The ratings of Neuland Laboratories (NLL) continue to derive strengths from experienced promoters having longterm presence in the industry, diversified revenue and customer profile, moderate financial performance with consistent operating revenue in FY15 (refers to the period April 1 to March 31), improved capital structure backed by equity infusion, moderate operating cycle, moderate product mix, strategic corporate reorganization to focus on its core business of manufacturing active pharmaceutical ingredients (API) and approved manufacturing facilities.
Neuland Laboratories manufactures active pharmaceutical ingredients for global pharmaceutical companies and provides end-to-end solutions for the pharmaceutical industry for chemistry-related services. It supplies to pharmaceutical companies across India, Europe and North America amongst others with a presence in over 85 countries.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1619.95 |
| Dr. Reddys Lab | 1315.85 |
| Cipla | 1294.75 |
| Zydus Lifesciences | 927.15 |
| Lupin | 2296.10 |
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