Credit rating agency, CARE has reaffirmed ‘A-’ rating to Gravita India’s long term bank facilities worth Rs 23.50 crore and ‘A2+’ rating to company’s short term bank facilities worth Rs 41.50 crore. Besides, the rating agency has also reaffirmed ‘A-/A2+’ rating to the long term/short term bank facilities of the company worth Rs 59.50 crore.
The ratings assigned to the bank facilities of Gravita India (GIL) continue to favourably factor in its established track record of operations in lead recycling and smelting industry with a wide geographical presence and reputed clientele, experienced and professional management and its operational synergy with presence of subsidiaries at multiple locations along with benefit derived from license for import of lead acid battery scrap.
Gravita India is engaged in the manufacturing and trading of lead and lead-based products. Under manufacturing operations, the company carries out smelting of lead ore/lead battery scrap to produce primary and secondary lead metal, which is transformed into pure lead, specific lead alloy, lead oxides (lead sub-oxide, red lead, and litharge) and lead products like lead sheets and lead pipes.
