Credit rating agency, CARE has reaffirmed ‘A+’ rating to HSIL’s long term bank facilities worth Rs 1096.22 crore, which was enhanced from Rs 1044.75 crore and ‘A1+’ rating to company’s Short term Bank Facilities worth Rs 185 crore, which was reduced from Rs 215 crore.
The company has received the ratings on the back of its experience of the promoters, established track record with a strong market position in building products and glass container segment, wide product portfolio and comfortable financial profile.
HSIL is one of the leading domestic players in container glass and building products segments. Under the second segment, the company manufactures and trades in sanitaryware products, faucets and wellness products. It has five manufacturing facilities in India, of which three are located in Andhra Pradesh, one in Rajasthan and one in Haryana.