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ICRA assigns ‘BB+’, ‘A4+’ rating to Arvind Remedies’ bank facilities

30 Aug 2013 Evaluate

Credit rating agency, ICRA has assigned long term rating of BB+ to the Rs 277.0 crore term loan facilities and the Rs 216.0 crore fund-based facilities of Arvind Remedies. The rating agency has also assigned short term rating of A4+ to the Rs 67.0 non fund based facilities of the company.

The assigned ratings factor in the company’s long standing presence and experience of the promoters in the formulations industry, its established position in the domestic institutional market segment and its improving presence in the domestic branded ethical market, diversified product base and wide market reach.

Arvind Remedies is engaged in the manufacturing of pharmaceutical formulations such as tablets, capsules (including soft gels), ointments and liquids. ARL markets its products in the institutional (primarily government organizations) and ethical segments, with institutional segment contributing to 70% of the total revenues.

Peers
Company Name CMP
Sun Pharma Inds. 1847.30
Dr. Reddys Lab 1293.25
Cipla 1347.70
Zydus Lifesciences 938.90
Lupin 2377.90
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