Credit rating agency, CARE has reaffirmed ‘AA-’ rating to Nilkamal’s Long-term Bank Facilities (Term loans) worth Rs 438.48 crore which was reduced from Rs 465.37 crore. The rating agency has also reaffirmed A1+ rating to the company’s Short-term Bank Facilities worth Rs 140.00 crore and Commercial Paper (CP) Issue worth Rs 50.00 crore.
The reaffirmation of the ratings continues to reflect the strong market position and established brand name of Nilkamal in the plastic material handling equipment & furniture business, its strong distribution network, healthy growth in revenues aided by increasing contribution from value-added products while maintaining its fairly comfortable capital structure and satisfactory performance of its subsidiaries and joint ventures.
Nilkamal’s principal activity is to manufacture injection moulded plastic products. It operates with three segments namely plastics, lifestyle furniture, furnishings & accessories and storage system & others.