Credit rating agency, CARE has reaffirmed the assigned ‘A1+’ rating to Commercial Paper (CP) Programme carved out of WC limits of Elder Pharmaceuticals for Rs 105.00 crore. The agency has also reaffirmed the assigned ‘A1+’ rating to Commercial Paper (standalone) Programme of the company for Rs 75.00 crore.
Improvement in the overall capital structure in terms of the reduction in gearing ratios and shortening of the working capital cycle are the key rating sensitivities.
Elder Pharmaceuticals (EPL) is engaged in the manufacturing and marketing of mainly pharmaceutical formulations, under its own as well as in-licensed brands, and offers a gamut of products in the Active Pharmaceutical Ingredients (API)/bulk drugs. The company is also a distributor of the cosmeceutical products.
