CARE assigns ‘BB+’ rating to Shekhawati Poly-Yarn’s long-term bank facilities

03 Dec 2012

CARE has assigned ‘BB+’ and ‘A4+’ ratings to Shekhawati Poly-Yarn’s Rs 114.88 crore long-term and Rs 6.50 crore worth short term bank facilities, respectively.

The ratings assigned are constrained by the risk of volatility in the prices of raw material and forex movements imparting volatility to the profitability and intense competition from large number of organized and unorganized players in the sector. The ratings, however, derive strength from the experience of the promoters in the Textile industry and growth in operations driven primarily by expansion in the texturising division.

Shekhawati Poly-Yarn (SPPL) was incorporated in 1990 as a private limited company and began operations as a trading unit and over the years has established and expanded its draw texturised yarn (DTY) capacity and has also forward integrated into twisted yarn (TFO) and knitted fabric capacities.

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0.44 0.02 (4.76%) Feb 26, 18:55
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