Credit rating agency, CARE has assigned ‘BBB-’ rating to Everest Kanto Cylinder’s long-term bank facilities worth Rs 401.65 crore. The rating agency has also assigned ‘A3’ rating to the company’s short-term bank facilities worth Rs 70.42 crore.
The company has received the said ratings on the back of its favourably factor well entrenched experience of the promoters, leadership position of the company in India marked by its global presence and the ability to satisfy the customers with wide range of customized products. The ratings are also strengthened by moderate capital structure of the company, and moderate utilization of the working capital limits.
Everest Kanto Cylinder (EKC) is engaged in the business of manufacturing industrial and CNG cylinders. The company has production capacity of 500,000 cylinders on an annual basis. EKC’s Dubai plant manufactures cylinders ranging from 1 to 280 liters water capacity and working pressure from150-400 bar (Test Pressure up to 650 bar).
