Credit rating agency, CARE has revised A rating to Arvind’s Long-term Bank Facilities worth Rs 1,485.88 which was enhanced from Rs 931.58 crore from A- and A/A1 rating to Long-term/Short-term Bank Facilities worth Rs 939.98 which was enhanced from Rs 624.67 crore from A-/A2+. The rating agency has also revised A1 rating to company’s Short-term Bank Facilities worth Rs 661.22 crore which reduced from Rs 666.33 crore from A2+.
The revision in the ratings of company takes into account the growing scale of its operations with an improvement in its operating profitability during FY13 and Q1FY14.
Ahmadabad based Arvind is the flagship company of the Lalbhai group. The company is one of India's leading composite manufacturers of textiles and is also among the largest denim manufacturers in the world. It also manufactures a range of cotton shirting, denim, knits and bottom weights (Khakis) fabrics. Arvind also markets branded apparels.