Credit rating agency CARE has downgraded rating of Nitco’s Rs 648.43 crore long term bank facilities to BB from BBB+. The rating agency has also downgraded rating of the company’s short term bank facilities worth Rs 633.07 crore to A4 from A2.
The rating for bank facilities has been downgraded by CARE due to company’s poor FY12 performance. The company reported a loss of Rs 55.44 crore on a total income of Rs 840.06 crore during FY12 as compared to a PAT of Rs 26.30 crore on a total income of Rs 641.02 crore during FY11.
Nitco is engaged in the manufacture of flooring tiles in India. Previously known as Nitco Tiles, the company is one of the largest manufacturers of flooring tiles in India.
| Company Name | CMP |
|---|---|
| Kajaria Ceramics | 1187.65 |
| Somany Ceramics | 447.05 |
| Cera Sanitaryware | 5296.40 |
| Asian Granito India | 77.40 |
| Pokarna | 906.95 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: