Credit rating agency, CARE has reaffirmed ‘BBB’ rating to Shiva Cement’s Long-term Bank Facilities worth Rs 185.0 crore and A3 rating to Short-term Bank Facilities worth Rs 1.5 crore.
The ratings continue to draw comfort from rich experience of the promoter with long & satisfactory track record, strategic alliance & support from ACC, strategic location of the plant and satisfactory financial risk profile marked by low leverage and satisfactory profitability.
Shiva Cement is engaged in manufacturing of cement and allied products. Its plants are located at Kalunga and Sundargarh in Orissa. The company has a combined installed capacity of 177,000 tonnes per annum.
