Credit rating agency, CARE has reaffirmed AA+ rating to Deepak Fertilisers and Petrochemicals Corporation’s (DFPCL) Non-Convertible Debentures worth Rs 250 crore. The rating agency has also assigned A1+ rating to the company’s Commercial Paper worth Rs 150 crore.
The company has received the said rating on the back of its favourable market position in the industrial chemicals segment, strong, financial profile characterized by low financial leverage, adequate liquidity and improved profitability of fertiliser segment due to the positive impact of the Nutrient-based Subsidy (NBS) policy.
Deepak Fertilisers & Petrochemicals is one of the leading manufacturers of industrial chemicals and fertilisers in India. The company operates in three business segments - chemicals, fertilisers and real estate.