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India Ratings assigns ‘A1’ rating to Prism Cement’s CP programme

19 Aug 2015 Evaluate

India Ratings and Research (Ind-Ra) has assigned Prism Cement’s (PCL) Rs 200 crore commercial paper (CP) programme an ‘A1’ rating. The company will use the CP proceeds for its working capital requirements.

Ind-Ra has taken a consolidated view of PCL and its subsidiaries for the ratings. In FY14, the company’s cement division was stressed with EBITDA margins of 4.6% due to lower profits in the first three quarters.

Prism Cement is one of India’s leading integrated building materials companies; with a wide range from cement, ready-mixed concrete, tiles, bath products to kitchens.

Peers
Company Name CMP
Ultratech Cement 10878.20
Ambuja Cements 368.00
ACC 1183.80
Shree Cement 21855.00
Dalmia Bharat 1672.35
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