Credit rating agency, CARE has assigned ‘AA-’ rating to JK Cement’s Proposed Long-term Non Convertible Debentures (NCD) worth Rs 200 crore.
The company has received the said ratings on the back of its dominant position in the white cement industry, strong brand image in the North Indian market, increasing presence in Karnataka and Maharashtra markets, self-sufficiency in power requirement, and comfortable solvency and liquidity profile.
JK Cement is one of the largest cement manufacturers in north India. It is also second largest producer of white cement in India. The company exports white cement to countries like South Africa, Nigeria, Singapore, Bahrain, Bangladesh, Sri Lanka, Tanzania, UAE and Nepal.
