Credit rating agency, CARE has assigned BBB- rating of Mafatlal Industries’ Long-term Rupee Term Loans (Proposed) Rs. 70.00 crore and BBB-/A3 rating to Long-term/Short-term Fund/Non Fund Based Bank Facility (Proposed) Rs 30.00 crore.
The ratings assigned to the bank facilities of MIL derives strength from the extensive experience of the promoters and the management in the textile business, integrated presence across textile value chain, a wide product portfolio with established brand, comfortable capital structure and liquidity position.
Mafatlal Industries, a flagship company of the Arvind Mafatlal Group that has vertically integrated composite textile mills, was incorporated in 1913 at Ahmedabad. The company is engaged in manufacture of textiles and textile chemicals
