Credit rating agency, CARE has reaffirmed AA+ rating to Birla Corporation’s long term bank facilities worth Rs 499.35 crore. The rating agency has also reaffirmed A1+ rating to the company’s short term bank facilities worth Rs 775 crore.
The company has received the said rating reaffirmation on the back of its strong financial risk profile marked by low leverage, satisfactory profitability, sizeable portfolio of surplus liquids funds and operational efficiency arising from backward integration for limestone and power.
Birla Corporation operates four division cement, jute, vinoleum and auto trim. It has eight manufacturing facilities located in Pune, Rajasthan, West Bengal, Gurgoan, Uttar Pradesh and Madhya Pradesh.
