Credit rating agency, CARE has reaffirmed BBB rating to Rs 130.57 crore long term bank facilities of Gujarat Foils. The rating agency has also reaffirmed A3+ rating to Rs 50 crore short term bank facilities of the company.
The ratings continue to derive strength from the growing operations leading to higher cash accruals of the company, experience of management in the aluminium industry, moderate gearing levels, continued financial support from the promoters, growth prospects of the end user industries of GFL’s products and commissioning of pharmaceutical packaging unit.
Gujarat Foils manufactures aluminum rolled products in India. The company offers closure, casserole or tagger, coil, cable wrap, fin, and eyelet products.
