Credit rating agency, CARE has reaffirmed ‘AA’ rating to Havells India’s long term bank facilities worth Rs 310.0 crore The rating agency has also reaffirmed ‘A1+’ ratings to company’s short term bank facilities worth Rs 411.0 crore which was enhanced from Rs 385.0 crore.
The company has received the said rating on the back of its experienced and resourceful promoter, established market position and brand name across various product segments, steady growth in operating income and profit and comfortable solvency profile.
Havells India is engaged in selling products in Kerala for several years and the business has shown an upward trend in terms of turnover in a short span of time. It has 10 manufacturing facilities in India in various states, including Himachal Pradesh, Uttar Pradesh and Rajasthan.
