Credit rating agency, CARE has reaffirmed ‘BBB+’ rating to Universal Cables’ long term bank facilities worth Rs 184 crore and ‘A2+’ rating to company’s Short term Bank Facilities worth Rs 367 crore. The rating agency has also reaffirmed ‘BBB+/A2+’ rating to the company’s Long-term/Short-term bank facilities worth Rs 2 crore.
The ratings continue to derive strength from UCL’s financially strong parentage viz. the M.P. Birla Group and consistent funding support from the group companies to support liquidity, particularly by Hindustan Gum and Chemicals (HGCL, rated CARE A+/A1+). The ratings also factor in, UCL’s established track record of the company in the cable segment along with experienced management, technological tie-up with Furukawa Electric Company (FEC) Japan and presence in all verticals of power cable and positive long-term outlook for the power sector.
UCL is engaged in manufacturing of power cables and capacitors for power industry, rubber cables for Original Equipment Manufacturers (OEM) and other industries like railways, steel plants, petrochemical plants, cement plants, oil rig manufacturers, ship building and mining. The power cables of the company are sold under the brand ‘Unistar’.
Company Name | CMP |
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Polycab India | 7000.35 |
Sterlite Technologie | 130.20 |
KEI Industries | 4662.60 |
RR Kabel Ltd. | 1737.00 |
Finolex Cables | 1558.60 |
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