Credit rating agency, CARE has revised ‘BBB’ ratings of Sanghvi Forging & Engineering’s long-term bank facilities worth Rs 118.57 crore which was enhanced from Rs 32.25 crore to ‘BB’ and ‘A3+’ rating of company’s short -term bank facilities worth Rs 17.00 crore which was enhanced from Rs 15.75 crore to ‘A4’. The rating agency has also revised ‘BBB/A3+’ rating of company’s long-term/short term bank facilities worth Rs 15.00 crore which was enhanced from Rs 7.00 crore to ‘BB/A4’.
The company has received the said rating on the back of its vast experience of the promoters along with its established trade relationship with reputed clientele and its comfortable profitability margins.
Sanghvi Forging & Engineering is engaged in manufacturing of open and closed die forging products for the oil and gas, petrochemicals, ship building, power and other sectors. It also exports products to various foreign countries over the last two decades.
| Company Name | CMP |
|---|---|
| Bharat Forge | 1885.85 |
| Ramkrishna Forgings | 597.40 |
| MM Forgings | 493.75 |
| Happy Forgings | 1352.00 |
| Balu Forge Industrie | 542.15 |
| View more.. | |
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