Credit rating agency, CARE has reaffirmed ‘BBB+’ rating to Pitti Laminations’ long term bank facilities worth Rs 86.39 crore which was reduced from Rs 132.10 crore and ‘A2’ rating to company’s Short term Bank Facilities worth Rs 182 crore which was enhanced from Rs 180 crore.
The company has received the said rating on the back of its experienced promoters, established track record in the Stampings & Lamination industry, reputed client portfolio, presence of raw material price variation clause in agreement with major clients and moderate capital structure.
Pitti Laminations is engaged in the manufacturing of electrical laminations with an installed capacity of 25,000 MTPA for the use in Rotating Electrical Machinery such as industrial motors, aeronautic wing control motors etc. The company also manufactures die-cast rotors and assembled stators, besides manufacture and sale of press tools, jigs and fixture.
