Credit rating agency, CARE has reaffirmed ‘A+’ rating to Radico Khaitan’s long term bank facilities worth Rs 593 crore and ‘A1+’ rating to company’s Short term Bank Facilities worth Rs 60 crore. The rating agency has also reaffirmed ‘A1+’ rating to the company’s Proposed Commercial Paper (CP) issue worth Rs 50 crore.
The ratings continue to derive strength from Radico Khaitan’s (RKL’s) strong nation-wide presence in the Indian Made Foreign Liquor (IMFL) segment, established brands along with consistent growth in the scale of operations, comfortable financial risk profile and adequate liquidity position in the form of unencumbered liquid reserves and unutilised working capital lines available with the company.
Radico Khaitan is engaged in the manufacturing Rectified Spirit (RS), Extra Neutral Alcohol (ENA), Country Liquor and IMFL. The company has one of the largest distilleries in India at Rampur with molasses-based distilling capacity of 75 million litres per annum and grain-based distillation capacity of 27 million litres per annum.
