Credit rating agency, Credit Analysis & Research (CARE) has revised the rating assigned to the long term facilities of Alok Industries to ‘BBB’. This rating is applicable to facilities having tenure of more than one year.
Further, it has revised the rating assigned to the short term facilities of the company to ‘A3’. This rating is applicable to facilities having tenure of up to one year.
Alok Industries evolved from a small trading business into India’s largest integrated textiles player. It is present across various verticals of the textile value chain - from yarn manufacturing to garmenting. Alok’s production facilities are at Silvassa, Vapi and Navi Mumbai. The company also has a presence in the domestic retail segment and in real estate through a wholly-owned subsidiary.