Credit rating agency, CARE has reaffirmed ‘AA-’ rating to Atul’s long term bank facilities worth Rs 343.20 crore and ‘A1+’ rating to company’s Short term Bank Facilities worth Rs 88.00 crore. The rating agency has also reaffirmed ‘A1+’ rating to the company’s Commercial Paper (CP) worth Rs 50.00 crore.
The company has received the said rating on the back of its experienced promoters and competent management, established track record and strong position in the chemical industry with diversified product portfolio, its leadership position in some of the high-value products, strong R&D setup, established customer base with sustained improvement in business and financial risk profile aided by gradual shift in its product mix over the last few years.
Atul is a member of Lalbhai Group, one of the oldest business houses of India, with interests mainly in textiles and chemicals. The Group is strongly committed to serve the society in the fields of education, health as well as culture. The company operates through six business divisions, namely, Agrochemicals, Aromatics, Bulk Chemicals & Intermediates, Colors, Pharmaceuticals & Intermediates and Polymers.
Company Name | CMP |
---|---|
Tata Chemicals | 1048.95 |
SRF | 2291.90 |
Pidilite Inds. | 2837.55 |
Aarti Inds | 665.25 |
Gujarat Fluorochemic | 3181.05 |
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