Credit rating agency, CARE has reaffirmed A- rating to Arvind’s Long-term Bank Facilities worth Rs 931.58 crore and A-/A2+ rating to Long-term/Short-term Bank Facilities worth Rs 624.67 crore. The rating agency has also reaffirmed A2+ rating to company’s Short-term Bank Facilities worth Rs 666.33 crore which enhanced from Rs 641.33 crore.
The company has received the said rating reaffirmation on the back of its consistent increase in scale of operations, improvement in leverage, along with moderate liquidity and comfortable debt protection indicators.
Ahmadabad based Arvind is the flagship company of the Lalbhai group. The company is one of India's leading composite manufacturers of textiles and is also among the largest denim manufacturers in the world. It also manufactures a range of cotton shirting, denim, knits and bottom weights (Khakis) fabrics. Arvind also markets branded apparels.
