MSR India has acquired 20.4 million shares of Farmax India. Recently, Credit rating agency, CARE had reaffirmed D rating to Farmax India’s Long-term Bank Facilities worth Rs 108.49 crore and D rating to Short-term Bank Facilities worth Rs 2.00 crore. The ratings continue to take into account the delays in servicing of debt obligations.
Farmax India is engaged in the business of manufacturing and marketing of fast moving consumer goods. It has a manufacturing facility with advanced technology imported (machinery is one of the highly sophisticated in that category and was imported from Italian food Major) and indigenous automated machines to meet quality consistency and market demand with minimum manufacturing cost resulting affordable finished product cost with consisted quality.
