Capitaline

Corporate News 01-Oct-19

Surya Roshni gets reaffirmation in credit ratings from CARE

Surya Roshni announced that CARE has reaffirmed the Long/ Short Term Bank Facilities - NFB rating to Care A1 on the enhanced amount of Rs. 1290.32 Crore (enhanced from Rs. 1103.32 crore) and its Long Term Bank Facilities rating to Care A+ on the enhanced amount of Rs. 1428.36 crore (enhanced from Rs. 1242.54 crore). The ratings are reaffirmed on account of consistent track record of profitable operations and diversified product profile characterized by established brand name with an extensive nation-wide marketing network, integrated operations in the lighting businesses and healthy growth in scale of operations of the Company.

CARE Ratings has also reaffirmed Credit Rating to CARE A1+(CE) for Rs. 100 crore (reduced from Rs. 250 crore on Company's request) Commercial Paper Program of Surya Roshni on the credit enhancement in the form of stand by letter of Credit (SBLC) issued by its bankers.

The aforesaid ratings are based on the audited financials for the year ended 31 March, 2019 and unaudited financials for the first Quarter of the financial year 2019-20 and also taking cognizance of the commencement of production of 3LPE coating plant at Anjar, Gujarat and benefits of overall synergy, experienced management and greater integration.

Previous News

Surya Roshni consolidated net profit rises 5.73% in the September 2021 quarter
( Results - Announcements 26-Oct-21 18:30 )

Surya Roshni consolidated net profit declines 27.20% in the December 2021 quarter
( Results - Announcements 14-Feb-22 17:16 )

Surya Roshni Ltd leads gainers in 'A' group
( Hot Pursuit - 07-Jul-22 12:00 )

Surya Roshni to hold AGM
( Corporate News - 18-Aug-23 20:15 )

Surya Roshni commences production of steel tubes at Gwalior-based plant
( Hot Pursuit - 18-Apr-22 10:32 )

Surya Roshni standalone net profit rises 19.15% in the March 2019 quarter
( Results - Announcements 22-May-19 15:07 )

Board of Surya Roshni approves sub-division of shares
( Corporate News - 11-Aug-23 15:34 )

Surya Roshni to discuss results
( Corporate News - 23-Jul-20 17:23 )

Surya Roshni secures order worth Rs 72.62 crore
( Corporate News - 18-Dec-20 13:33 )

Surya Roshni receives reaffirmation in ratings for CP programme
( Corporate News - 02-Jan-20 18:29 )

Surya Roshni gains on bagging Rs 41-cr order from GNIDA
( Hot Pursuit - 22-Sep-21 09:24 )