Credit rating agency, CARE has reaffirmed ‘A+’ rating to Sukhjit Starch & Chemicals’ long term bank facilities worth Rs 135.47 crore and ‘A1’ rating to company’s Short term Bank Facilities worth Rs 10 crore. The rating agency has reaffirmed ‘A+/A1’ rating to the company’s Long-term/Short-term bank facilities worth Rs 50 crore. Furthermore, the rating agency has also reaffirmed ‘A+ (FD)’ rating to the company’s Fixed Deposits worth Rs 40 crore.
The ratings continue to draw strength from the position of The Sukhjit Starch & Chemicals (SSCL) as one of the leading manufacturers of starch and its derivatives, experience of the promoters and the management team. The ratings also favorably factor in the advantage arising out of multiple manufacturing units located in proximity to maize-producing areas, comfortable capital structure and reputed clientele from diverse industries
SSCL is primarily engaged in the processing of maize (corn) and manufacturing of starch, its derivatives (liquid glucose, Sorbitol 70%, monohydrate dextrose, dextrin, etc) and other by-products. SSCL has four manufacturing units located at Phagwara (Punjab), Nizamabad (Andhra Pradesh), Malda (West Bengal), Gur Plah (Himachal Pradesh). The total installed capacity for all the units was 204,000 MTPA (Metric ton per annum) of Starch and 141,300 MTPA of Glucose as on March 31, 2015.
