Credit rating agency CARE has reaffirmed AA rating to Rs 22.06 crore long term bank facilities of Alembic Pharmaceuticals. The rating agency has also reaffirmed AA/A1+ rating to Rs 248 crore short term bank facilities of the company. Further, rating agency has reaffirmed AA rating to Rs 50 crore Non Convertible Debenture (NCD) of the company.
The ratings take into account the company’s impressive track record of over 100 years, the company’s comfortable financial risk profile and its dominant position in the macrolides segment in the domestic formulation market with established brands and successful diversification into fast-growing chronic segments through acquisition of non-oncology pharmaceutical business of Dabur.
Alembic Pharmaceuticals was incorporated in June 2010 after the demerger of core pharmaceutical business of erstwhile Alembic, one of the oldest pharmaceutical companies in India. APL is an integrated company having presence across the pharmaceutical value chain.
| Company Name | CMP |
|---|---|
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| Cipla | 1228.90 |
| Zydus Lifesciences | 936.35 |
| Lupin | 2328.60 |
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