Credit rating agency, CARE has assigned ‘BBB-‘ rating to the long-term bank facilities of KIC Metaliks for Rs 21.00 crore. The agency has also assigned ‘A3’ rating to the short-term bank facilities of the company for Rs 32.00 crore.
The ratings are however, constrained by short track record under new management, lack of backward integration, volatility in raw material prices, cyclical nature of the industry and risks associated with implementation of ongoing project. Ability of the company to complete the projects in time and stabilise its manufacturing operation, maintain profitability and margins in ensuing future are the key rating sensitivities.
KIC has established itself as a leading producer of pig iron, iron castings and slag cement in eastern India. Apart from this, the company has in-house container stuffing facilities which will speed-up the shipping process.
Company Name | CMP |
---|---|
Jindal Steel & Power | 922.05 |
Jai Balaji Inds | 929.10 |
Lloyds Metals&Energy | 668.55 |
Steel Exchange India | 13.69 |
KIC Metalik | 51.80 |
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