Credit rating agency, CARE has reaffirmed ‘BBB+’ rating to Tara Jewels’ Long-term / Short-term (Fund-based) worth Rs 496 crore and A2 rating to Long-term / Short-term (Non-fund Based) worth Rs 247 crore.
The ratings of TJL continue to derive strength from the experience of the promoters in the Gems & Jewellery (G&J) industry, its presence across the jewellery value chain and growth in the operations. The ratings also take cognizance of the successful Initial Public Offer (IPO) and expected improvement in the financial risk profile.
Tara Jewels is an integrated player in the jewellery industry with experience ranging from designing to retailing of jewellery. They have been the second highest exporter of studded jewellery from EPZ and EOU complexes in India for the year 2006-2007, 2007-2008 and 2008-2009.
