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CARE reaffirms ratings of Shree Rajasthan Syntex’s bank facilities

11 Aug 2011 Evaluate

Credit rating agency CARE has reaffirmed ‘BB-’ rating to Rs 151.15 crore long term bank facilities of Shree Rajasthan Syntex. The rating agency has also reaffirmed ‘A3’ rating to Rs 27.53 crore short term bank facilities of the company.

The ratings continue to factor in the company’s established track record in the blended yarn industry, well experienced promoters and improvement in the prospects for the blended yarn segment. The ratings also factor the improvement in financial risk profile marked by improvement in profitability during FY11, owing to an overall improvement in the industry scenario.

Shree Rajasthan Syntex manufactures yarn in the range of 18-30 counts. The company is currently having yarn manufacturing capacities of 67,584 spindles for synthetic/blended yarn, 14,520 spindles for cotton yarn and 3,600 MTPA production capacity of PPMF yarn, all located in Rajasthan.

Shree Rajasthan Syn. Share Price

13.60 0.64 (4.94%)
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