Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Mafatlal Industries’ long term bank facilities worth Rs 71.50 crore. The rating agency has also reaffirmed ‘BBB-/A3’ rating to the long/short term bank facilities of the company worth Rs 28.50 crore.
The ratings of Mafatlal Industries (MIL) continue to derive strength from the extensive experience of the promoters and the management in the textile business, integrated presence across textile value chain with established brand image, wide product portfolio & geographical coverage along with comfortable capital structure and adequate liquidity position.
Incorporated in the year 1913, MIL is engaged in the textile business. MIL is an integrated textile player with spinning, weaving and processing facility at Nadiad and Navsari (Gujarat). It produces a range of products which includes a wide range of fabrics (suitings and shirtings, twills, voiles, prints, poplins, cambrics, fine lawns, school uniforms, corporate, and institutional wear), denims and ready-made garments.
