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Harrisons Malayalam gets rating up-gradation from ICRA for bank facilities

20 Sep 2011 Evaluate

Credit rating agency, ICRA has upgraded the long term rating assigned to Rs 71.7 crore term loans and Rs 37.0 crore fund based facilities of Harrisons Malayalam to BBB- from LBB+. The outlook on the rating is stable. The rating agency has also upgraded the short term rating assigned to Rs.4.3 crore non-fund based facilities of HML to A3 from A4+.

The ratings revision reflects the improving business prospects supported by robust demand for rubber in the user industries and the consequent strengthening of rubber prices, especially in the last 18 months, thus driving the performance of HML’s rubber segment.

Harrisons Malayalam, part of the RPG Group, markets its tea products under ‘Harrison's Gold’, ‘Mountain Mist’, ‘Surya’, and ‘Spencer's’ brand names. These brands command significant market share in Kerala, Tamil Nadu and Karnataka.  The company owns rubber factories and tea factories across Kerala, Karnataka and Tamil Nadu.

Harrisons Malayalam Share Price

221.00 -1.90 (-0.85%)
04-May-2026 16:59 View Price Chart
Peers
Company Name CMP
Apcotex Inds 396.30
Pix Transmission 1542.05
GRP 1838.80
Harrisons Malayalam 221.00
Tinna Rubber & Infra 773.10
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