Credit rating agency, CARE has reaffirmed ‘BB+’ rating to Mangalam Ventures’ long term bank facilities worth Rs 11.23 crore which was enhanced from Rs 9.55 and ‘A4+’ rating to company’s Short term Bank Facilities worth Rs 1.00 crore which was reduced from Rs 2.00 crore. The company has received the said rating on the back of its experienced promoters and comfortable capital structure and moderate debt coverage indicators.
Mangalam is primarily engaged in the manufacturing and exporting of readymade garments to Canada, USA and Europe from the past 16 years. Mangalam has a manufacturing facility at Faridabad with an installed capacity of around 16.5 lakh pieces per annum for readymade garments.
