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CARE reaffirms ratings of Parabolic Drugs’ bank facilities

31 Mar 2014 Evaluate

Credit rating agency, CARE has reaffirmed ‘D’ rating to Parabolic Drugs’ long term bank facilities worth Rs 696.60 crore which was enhanced from Rs 472.93 crore. The rating agency has also reaffirmed ‘D’ rating to the company’s short-term bank facilities worth Rs 108.68 crore which was reduced from Rs 317.68 crore. The rating continues to take into account the ongoing delays in debt servicing on account of the tight liquidity position of the company.

Parabolic Drugs (PDL) has commenced its commercial operations in 1998 with contract manufacturing of APIs and API intermediates for sales in India and abroad (including regulated markets). PDL presently has four facilities comprising of three manufacturing plants, viz, Derabassi and Chachrauli (both Punjab) and Panchkula and an R&D centre at Barwala (both Haryana).

Parabolic Drugs Share Price

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