Credit rating agency, CARE has reaffirmed ‘BB+’ rating to Rs 52 crore long term bank facilities of the JK Sugar. The rating agency has also reaffirmed PR4 rating to Rs 7 crore short term bank facilities of the company.
The ratings continue to take into account the below-average financial risk profile characterized by high overall gearing and the continuous losses incurred by the company, partially integrated nature of operations, inherent cyclicality and regulatory risks associated with the sugar business. The ratings however draw comfort from its experienced and strong promoters and stable outlook for the sugar industry.
Set up as a division of JK Tyre and Industries, JK Sugar belongs to the Singhania group led by Hari Shankar Singhania and operates a sugar plant with a capacity of 5000TCD at Meerganj in Bareilly.
Company Name | CMP |
---|---|
Shree Renuka Sugar | 45.55 |
Bajaj Hindusthan Sug | 36.29 |
Triveni Engg. & Inds | 370.95 |
Balrampur Chini Mill | 402.00 |
Dalmia Bharat Sugar | 412.30 |
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