Credit rating agency, CARE has reaffirmed ‘BBB+’ rating to Ashapura Intimates Fashion’s (AIFL's) long-term bank facilities worth Rs 50 crore. The reaffirmation in rating assigned to AIFL factors in the moderate growth in operations along with improvement in profit margins, capital structure and debt coverage indicators during FY16 (refers to the period April 1 to March 31). The rating continues to factor in experience of the promoters, consistent growth in operations with growing brand presence, healthy profit margins and comfortable capital structure and debt coverage indicators.
Ashapura Intimates Fashion is engaged in the business of designing, branding, marketing and retailing of intimate garments through a well developed & wide distribution network and undertakes sales through organized retail chains and own outlets.
