Credit rating agency, ICRA has upgraded the long term rating of Dhanuka Agritech from ‘A-’ to ‘A+’ amounting for Rs 50 crore fund based facilities. The outlook for the long-term rating is stable. The rating agency has also reaffirmed the short term rating at ‘A1’ for an enhanced amount of Rs 50 crore for non-fund based limits of the company.
The rating action takes into account strong financial performance exhibited by the company as characterized by steady revenue growth, stable return indicators and strong internal accrual generation, which coupled with the decline in debt levels, has resulted in low gearing levels, robust debt protection metrics and healthy liquidity position.
Dhanuka Agritech is the umbrella company for the business of agro-chemicals, fertilizers, and seeds of Dhanuka Group. The company reaches out to more than 10 million farmers with its eco-friendly high quality crop care products. The Agri-Division has a pan-India presence through its marketing offices in all major states in India.
| Company Name | CMP |
|---|---|
| UPL | 656.15 |
| PI Industries | 3036.95 |
| Bayer CropScience | 4852.90 |
| Sharda Cropchem | 1101.50 |
| Sumitomo Chemical | 446.00 |
| View more.. | |
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