CARE reaffirms the assigned ‘A1+’ rating to CP/STD Programme of Nilkamal

05 Aug 2011

Credit rating agency, CARE has reaffirmed the assigned ‘A1+’ rating to the Commercial Paper/ Short-term Debt (CP/STD) Programme of Nilkamal for Rs 50.00 crore. The rating is constrained by huge capital expenditure planned, competition from unorganized sector and high volatility in raw material prices.

The ability of Nilkamal to implement its capex plans in a timely manner, maintain higher profitability levels and turn its JV operations into profitable ventures are the key rating sensitivities.

Nilkamal is engaged in four key businesses that include material handling crates, containers and bins, moulded furniture such as chairs, tables and cabinets, custom mouldings and OEM supplies for specific customers and @home - the mega home store retail chain.

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