Credit rating agency, CARE has revised rating of Keerthi Industries’ long term bank facilities worth Rs 34.66 crore to ‘BB-’ from ‘C’. The revision in the rating assigned to the bank facilities of Keerthi Industries takes into account improvement in the overall financial risk profile of the company as reflected in the increase in total operating income and improvement in profitability margins. The rating continues to derive strength from experience of the promoters, moderate liquidity position of the company and favourable industry prospects.
Keerthi Industries is engaged in the manufacturing of specialized cement of 43 & 53 grades, ie, Ordinary Portland Cement (OPC) and Pozzolona Portland Cement (PPC). The manufacturing facility of cement has installed capacity of 594,000 TPA and the unit is located at Nalgonda district of Telangana state. KIL sells cement under the brand name ‘Suvarna Cements’.
