India Cements' bank facilities rated: outlook stable
Shital Jibhe / 12 Jan 2017
Credit Analysis and Research Limited (CARE) has assigned ratings to the bank facilities of a cement manufacturer named India Cements. CARE gave long banking facilities a rating A- from previous BBB+ while short term bank facilities got A1 grade from earlier A2.
Credit Analysis and Research Limited (CARE) has assigned ratings to the bank facilities of a cement manufacturer named India Cements. CARE gave long banking facilities a rating A- from previous BBB+ while short term bank facilities got A1 grade from earlier A2. The company has posted a growth of 9 per cent in its revenues and 41.9 per cent QoQ growth in net profits for the quarter ending September 2016.
The company has marketed brands like Sankar Super Power, Coromandel King and Raasi Gold. The company's consolidated annual results shown a de-growth of 3 per cent in revenues but a recovery in the bottomline to a net profit of Rs 134.30 crore in FY16 a against Rs 3.31 crore in FY15.
The stock of India Cements has witnessed a reversal from 105 levels making a double bottom at the said levels. The stock has also given a crossover from its 50 days,100 days and 200 days EMA levels at 124, 125 and 119 levels respectively, on the daily charts.
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