CARE reaffirms ratings of Apar Industries’ bank facilities

Credit rating agency, CARE has reaffirmed ‘A+’ rating to Apar Industries’ long term bank facilities worth Rs 570.34 crore and ‘A+/A1+’ rating to company’s Short term Bank Facilities worth Rs 3475 crore. The ratings assigned to the bank facilities of Apar Industries (AIL) continue to draw strength from the experience of the promoters, improvement in financial profile in the past year, a strong order book position (especially in the conductor’s segment), established market position of the company in the product segments it operates in along with long-term relationship with customers and a diversified revenue profile.

Apar Industries is engaged in the manufacturing of transmission & distribution overhead conductors transformer and specialty oils and power and other cables. AIL has three broad business segments - Transformer and Speciality Oils (TSO) segment, conductors segment and cables segment.