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CARE revises rating of Nitin Spinners’ bank facilities

14 Jul 2011 Evaluate

Credit rating agency, CARE has revised rating of Rs 331.32 crore long term bank facilities of Nitin Spinners to ‘BB+’ from ‘BB’. The rating agency has also revised rating of Rs 14 crore short term bank facilities of the company to ‘A4+’ from ‘A4’.

The rating revision takes into account the improvement in profitability and liquidity indicators during FY11. The ratings continue to be constrained by the company’s relatively stressed financial risk profile as reflected in its high overall gearing, high repayment obligations in the medium-term, presence in highly competitive cotton textile industry, susceptibility of its margins to adverse fluctuations in cotton prices and foreign currency.

Bhilwara-based Nitin Spinners, incorporated in 1992, is mainly engaged in the manufacturing of cotton yarn and cotton knitted fabrics. 

Nitin Spinners Share Price

539.65 32.90 (6.49%)
04-Jun-2026 16:59 View Price Chart
Peers
Company Name CMP
Trident 24.35
Filatex India 48.36
Nitin Spinners 539.65
Nahar Spinning Mills 276.65
Sanathan Textiles 395.45
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