Credit rating agency, CARE has assigned ‘PR1+’ rating to the proposed Commercial Paper (CP) issue of Bajaj Hindusthan for Rs 200.00 crore. The ability of the company to sustain profitability margins, the trend of cane prices and regulations governing the sector would remain the key rating sensitivities.
The rating takes into account experienced promoters and management team, long operational track record of the company, operational synergies arising out of fully-integrated manufacturing set-up comprising sugar, distillery and power divisions and multi-location manufacturing facilities in proximity to sugarcane-growing areas.
Bajaj Hindusthan, a part of the 'Bajaj Group’, is one the largest sugar manufacturing companies in Asia, and also the largest industrial alcohol manufacturers in India. It is engaged in sugar manufacturing, distillery operations and bagasse-based power generation.
| Company Name | CMP |
|---|---|
| Shree Renuka Sugar | 23.15 |
| Bajaj Hindusthan Sug | 19.19 |
| Triveni Engg. & Inds | 402.50 |
| Balrampur Chini Mill | 531.70 |
| Dalmia Bharat Sugar | 337.85 |
| View more.. | |
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