Credit rating agency, CARE has assigned ratings to bank facilities of Raunaq Automotive Components (RACL). The credit rating agency has assigned ‘BBB’ rating to the company's long-term bank facilities amounting Rs 25.89 crore while the agency has assigned ‘A3’ rating to company's short-term bank facilities amounting Rs 4 crore.
The ratings assigned to the bank facilities of the company derive strength from the experienced promoters, long track record of operations and long standing relationship with reputed clientele and moderate financial risk profile of the company marked by improving profitability margins.
RACL was incorporated in 1983 and is engaged in the business of manufacturing of transmission gears and shafts for automotive and industrial applications.
