India Ratings & Research (Ind-Ra) has affirmed A4+ rating to Priya’s fund-based post-shipment export finance credit facility of worth Rs 21.00 crore and non-fund-based limits at Short-Term of worth Rs 21.00 crore.
The company has received the said rating on the back of its improvement in liquidity profile due to better working capital management. Working capital cycle improved to 56 days in FY13 from 76 days in FY12. Cash flow from operation has been positive since FY12. Working capital use was around 82% average for the 12 months ended January 2014.
Priya, a part of the Priya Group was established in 1984-85. It is a leading distributor of computer technology products. The company's mission is to provide state-of -the-art distribution services to OEMs, System Integrators, Assemblers and end-users in India.
Company Name | CMP |
---|---|
Adani Enterprises | 3037.15 |
Redington | 218.35 |
Amrapali Industries | 14.50 |
Rashi Peripheral | 352.10 |
Compuage Infocom | 4.82 |
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