Credit rating agency, CARE has reaffirmed ‘BB’ rating to Cubex Tubings’ long-term bank facilities worth Rs 1 crore. The rating agency has also reaffirmed ‘A4’ rating to the company’s short-term bank facilities worth Rs 5 crore.
The ratings assigned to the bank facilities of Cubex Tubings (CTL) continue to remain constrained by its small scale of operations, low and fluctuating profitability margins during FY13-FY15 (Prov. refers to the period April 01 to March 31), elongated collection period, short-term revenue visibility in order book and presence in highly competitive industry attributed to tender-driven nature of business.
Cubex Tubings is engaged in the manufacturing of copper, brass and nickel alloys products from its unit located at Patancheru (Telangana) with an installed capacity of 2,800 MTPA. CTL also carries out manufacturing activities on a jobwork basis. The manufacturing processes of the company are ISO 9001:2000 certified.
