Credit rating agency, CARE has assigned ‘BB+’ rating to Seya Industries’ Long term Bank Facilities worth Rs 88.00 crore and A4+ rating to Short term Bank Facilities worth Rs 6.00 crore.
The ratings of Seya Industries are constrained by modest scale of operations, volatility in raw material prices affecting the profitability margins, long operating cycle leading to working capital intensive nature of operations, competitive nature of the industry and the qualifications in the auditor’s report of FY13.
Seya Industries, an emerging leader in Chemical Industry (formerly known as Sriman Organic Chemical Industries), is engaged in manufacturing and exporting of Pigment,Pharmaceuticals, Agrochemicals and Rubber chemicals intermediates.