CARE assigns ‘A1+’ rating to Shree Cement’s Rs 50 crore worth Short term debt

14 Dec 2012

CARE has assigned ‘A1+’ rating to Shree Cement’s Rs 50 crore worth Short term debt (series II). The ratings continues to draw comfort from rich experience of the promoters and qualified  managerial team, strong brand image, operational efficiency due to backward integration  (limestone & power), improved performance of the cement unit, strong financial risk profile  marked by satisfactory profitability & low leverage, sizeable portfolio of surplus liquids funds and high energy efficient plants earning carbon credit.

However, the rating also factors in volatility in prices of crude oil and pet coke/coal, saleability risk associated with power unit, risk of ongoing projects and challenging operating environment for the domestic cement industry.

Shree Cement (SCL), belonging to B.G.Bangur - H. M. Bangur faction of Bangur family of Kolkata, is engaged in manufacturing of cement and power generation. SCL’s eight cement plants in Rajasthan and one grinding unit in Uttrakhand have an aggregate capacity of 13.5 mn tonnes p.a. (PPC; OPC capacity -9 mn tonnes p.a.)

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27322.00 601.15 (2.25%) May 17, 18:01
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