Credit rating agency, CARE has reaffirmed rating assigned to Arex Industries’ long-term bank facilities worth Rs 8 crore to ‘BBB’. The credit rating agency has also reaffirmed ratings assigned to the long term/short term bank facilities worth Rs 4.50 crore to ‘BBB/A3+’. The ratings assigned to the bank facilities of Arex Industries (AIL) continue to derive strength from wide experience of promoters with competent management in woven labels manufacturing business, the company’s long-standing track record with well established manufacturing setup with latest technology machines, established relationship with reputed customers with gradual diversification, healthy profitability margins, comfortable leverage, liquidity and debt coverage indicators along with favourable demand scenario for woven labels.
Arex Industries manufactures various types of woven labels of Satin and Taffeta quality in white or black warp-base, of different shapes, sizes and colors depending on the customer’s requirement. The demand for these labels mainly arises from apparels/ ready-made garments and home textile segment of the textile industry along with footwear industry.
Company Name | CMP |
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PDS | 478.40 |
Vardhman Textiles | 461.60 |
Arvind | 321.20 |
Welspun Living | 155.25 |
Alok Inds | 27.59 |
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