Credit rating agency, CARE has assigned ‘A+’ rating to Tamil Nadu Newsprint and Papers’ Long-term bank facilities worth Rs 2110 crore and ‘A1’ rating to the company’s Short-term bank facilities worth Rs 200 crore. The rating agency has also assigned ‘A +/ A1’ rating to the company’s Long-term/Short-term Bank Facilities worth Rs 325 crore.
The company has received the said rating on the back of its well established, long track record of operations with consistent operational performance, integrated nature of its production facilities with in-house pulp & captive power capacities, relatively higher profit margin earned primarily on account of use of bagasse as raw material and favorable long-term growth prospects of the domestic paper industry.
Tamil Nadu Newsprint and Papers (TNPL) was established with an intention to manufacture newsprint and printing and writing paper by using bagasse as a raw material. The company manufactures products such as ultra white maplitho, elegant maplitho, hi-tech maplitho, creamwove, copy crown and copier.
| Company Name | CMP |
|---|---|
| JK Paper | 359.75 |
| TN Newsprints | 151.05 |
| West Coast Paper | 483.55 |
| Emami Paper Mills | 78.26 |
| Seshasayee Paper | 267.45 |
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