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CARE reaffirms the assigned ‘CARE A1+’ rating to the CP Programme of Garden Silk Mills

18 Jul 2011 Evaluate

Credit rating agency, CARE has reaffirmed the assigned ‘CARE A1+’ rating to the Commercial Paper (carved out) issue of Garden Silk Mills for Rs 300.00 crore. The ratings derive strength from liquid investments consistently maintained by Garden Silk Mills coupled with growing focus on value-added yarn segment.

The company’s ability to improve its profitability margins in the scenario of volatility in raw material prices, increasing competition from other domestic players, successfully implement the expansion project and maintain comfortable liquidity position are the key rating sensitivities.

Garden Silk Mills incorporated in 1979 is among the leading fabric engineer, design maker and a polyester yarn manufacturer in India. The company’s manufacturing facilities are situated at Vareli and Jolwa in Surat district in Gujarat, which is the largest polyester market in India. Garden Silk Mills manufacturing facilities has received ISO 9001:2000 certified by BVQI for its quality management.

Garden Silk Mills Share Price

7.61 0.00 (0.00%)
25-Jan-2021 18:59 View Price Chart
Peers
Company Name CMP
Welspun Living 126.75
Vardhman Textiles 549.50
Arvind 385.05
K.P.R. Mill 919.20
Page Industries 38400.65
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