Credit rating agency, CARE has reaffirmed A- rating to Surya Roshni’s Long-term Bank Facilities worth Rs 814.25 crore, which was enhanced from Rs. 820.34 crore and A2+ rating to Short-term Bank Facilities worth Rs 57.50 crore, which was enhanced from Rs 25.00 crore.
The rating agency has also reaffirmed A-/A2+ rating to company’s Long/Short-term Bank Facilities worth Rs 440.00 crore, which was enhanced from Rs 390.00 crore.
The ratings continue to draw support from the experienced promoters, consistent track record of profitable operations of the company, established brand name with a well-developed nation-wide marketing network and diversified product profile of the company.
Surya Roshni has three segments viz steel, lighting and real estate. The company diversified into lighting products with the manufacturing of General Lighting Systems (GLS) and Fluorescent Tube Lamps (FTL) sold under brand name ‘Surya’ and started the production of Compact Fluorescent Lamps (CFLs) in 2007.
