Credit rating agency, CARE has reaffirmed ‘A+’ rating to Seshasayee Paper & Boards’ long term bank facilities worth Rs 353.59 crore, which was enhanced from Rs 160 and ‘A1’ rating to company’s Short term Bank Facilities worth Rs 220 crore, which was enhanced from Rs 100 crore.
The company has received the ratings on the back of its established track record in the paper industry and strong distribution network, satisfactory operational performance characterised by steady utilisation levels and operating margins, well-recognized position in southern India, integrated manufacturing facilities entailing lower dependence on imported pulp, comfortable capital structure and liquidity profile and experienced management.
Seshasayee Paper and Boards, the flagship company belonging to 'ESVIN GROUP', operates an integrated pulp, paper and paper board Mill at Pallipalayam, Erode, District Namakkal, Tamilnadu, India.
| Company Name | CMP |
|---|---|
| JK Paper | 378.45 |
| TN Newsprints | 156.55 |
| West Coast Paper | 523.60 |
| Emami Paper Mills | 81.36 |
| Seshasayee Paper | 264.80 |
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