Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Lakshmi Mills Company’s long term bank facilities worth Rs 79.36 crore and ‘A3’ rating to the company’s short term bank facilities worth Rs 24.27 crore. The ratings continue to derive strength from vast experience of the promoters of Lakshmi Mills Company (LMC), long track record & well-established market presence of LMC and presence of liquid investments supporting the financial risk profile of the company. The ratings also take into account LMC’s diversified product profile and increased focus on modernisation of operations.
LMC incorporated in the year 1910 is into manufacturing of cotton yarn and polyester blended yarn. The company is based out of Coimbatore and has two spinning units in Kovilpatti and Palladam (Tamil Nadu). The total installed capacity of the company as on March 31, 2016 was 133,392 spindles. The company produces yarn in the count range of 60s to 100s.
| Company Name | CMP |
|---|---|
| Welspun Living | 162.00 |
| Vardhman Textiles | 661.40 |
| Arvind | 509.40 |
| K.P.R. Mill | 1180.75 |
| Page Industries | 40000.00 |
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