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Jagdish Aluminium Private Limited: Instrument Amount Rating Action

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128 views3 pages

Jagdish Aluminium Private Limited: Instrument Amount Rating Action

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Priyanka
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© © All Rights Reserved
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Jagdish Aluminium Private LimitedRevised

Instrument Amount Rating Action


Cash Credit Rs. 8.00 crore [ICRA]BBB- (stable) revised
Term Loan Rs. 1.42 crore [ICRA]BBB- (stable) revised
EPC/PCFC/FBD^ (Rs. 1.00 crore) [ICRA]A3 revised
Letter of Credit Rs. 7.50 crore [ICRA]A3 revised
Bank Guarantee* (Rs. 1.00 crore) [ICRA]A3 revised
Credit Exposure Limit* (Rs. 0.02 crore) [ICRA]A3 revised
^sublimit of CC; *sublimit of LC

ICRA has upgraded the long term rating on the Rs. 1.42 crore term loan and Rs. 8.00 crore cash credit
facility of Jagdish Aluminium Pvt Ltd (JAPL) from [ICRA]BB+ (pronounced as ICRA Double B plus) to
[ICRA]BBB- (pronounced as ICRA Triple B minus). The long term rating carries a stable outlook. ICRA
has also upgraded the short term rating on the Rs. 7.50 crore letter of credit facility and Rs. 2.02 crore
short term sub limits of JAPL from [ICRA]A4+ (pronounced ICRA A four plus) to [ICRA]A3 (pronounced
ICRA A three).

The revision in rating factors in the improvement in financial profile as reflected in robust growth in
revenues, decline in gearing levels supported by healthy accruals to net worth and consequently
improved coverage indicators. The profitability of the company has witnessed improvement on account
of declining raw material costs. The rating also continues to incorporate the long & established track
record of the company, a diversified product portfolio catering to various industries and its wide
customer network having pan India presence.

The ratings, however, continue to be suppressed by vulnerability of company’s profitability to


fluctuating raw material prices on account of cyclicality associated with commodity prices and
competitive business scenario caused due to the presence of large and established players.

Company Profile
Established in 1986 as a partnership firm and later incorporated in 1991, Jagdish Aluminium Private
Limited is a manufacturer of aluminium coils, sheets, foils, strips and color coated aluminium coils. The
company has an installed capacity to process 10800MT of rolled products per annum. The aluminium
rolled products ranges from 0.03mm to 1mm thickness and 10mm to 1000mm width. The
manufacturing facility of the company is located in Ahmedabad.

Recent Results
During FY 2013, the company reported net profit of Rs. 4.22 crore on an operating income of Rs.
99.32 crore as against net profit of Rs. 1.05 crore on an operating income of Rs. 70.00 crore in FY
2012.

October 2013

For further details please contact:


Analyst Contacts:
Mr. Anjan Ghosh (Tel. No. +91-22-6179 6392)
[email protected]

Relationship Contacts:
Mr. L. Shivakumar (Tel. No. +91-22-6179 6393)
[email protected]
© Copyright, 2013, ICRA Limited. All Rights Reserved.
Contents may be used freely with due acknowledgement to ICRA
ICRA ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments. The ICRA
ratings are subject to a process of surveillance which may lead to a revision in ratings. Please visit our website
(www.icra.in) or contact any ICRA office for the latest information on ICRA ratings outstanding. All information
contained herein has been obtained by ICRA from sources believed by it to be accurate and reliable. Although
reasonable care has been taken to ensure that the information herein is true, such information is provided ‘as is’
without any warranty of any kind, and ICRA in particular, makes no representation or warranty, express or
implied, as to the accuracy, timeliness or completeness of any such information. All information contained herein
must be construed solely as statements of opinion and ICRA shall not be liable for any losses incurred by users from
any use of this publication or its contents
Registered Office
ICRA Limited
1105, Kailash Building, 11th Floor, 26, Kasturba Gandhi Marg, New Delhi 110001
Tel: +91-11-23357940-50, Fax: +91-11-23357014

Corporate Office
Mr. Vivek Mathur
Mobile: 9871221122
Email: [email protected]

Building No. 8, 2nd Floor, Tower A, DLF Cyber City, Phase II, Gurgaon 122002
Ph: +91-124-4545310 (D), 4545300 / 4545800 (B) Fax; +91- 124-4050424

Mumbai Kolkata
Mr. L. Shivakumar Mr. Jayanta Chatterjee
Mobile: 9821086490 Mobile: 9845099459
Email: [email protected] Email: [email protected]

3rd Floor, Electric Mansion, Appasaheb Marathe Marg, A-10 & 11, 3rd Floor, FMC Fortuna, 234/3A, A.J.C. Bose
Prabhadevi, Mumbai - 400 025 Road Kolkata—700020
Ph : +91-22-30470000, 24331046/1053 Tel: +91-33-22876617/8839 22800008/22831411
/1062/1074/1086/1087, Fax : +91-22-24331390
Chennai Bangalore
Mr. Jayanta Chatterjee Mr. Jayanta Chatterjee
Mobile: 9845099459 Mobile: 9845099459
Email: [email protected] Email: [email protected]

5th Floor, Karumuttu Centre, 498 Anna Salai, Nandanam, 'The Millenia',
Chennai-600035. Tower B, Unit No. 904, 9th Floor, Level 9, 19-14, 1 & 9,
Tel + (91 44) 45964300, Fax + (91 44) 9434 3663 Murphy Road, Bangalore - 560 008
Tel:91-80- 43396400 Fax:91-80-43396409

Ahmedabad Pune
Mr. L. Shivakumar Mr. L. Shivakumar
Mobile: 989986490 Mobile: 989986490
Email: [email protected] Email: [email protected]

907 & 908 Sakar -II, Ellisbridge, 5A, 5th Floor, Symphony, S.No. 99, CTS 3909, Range Hills
Ahmedabad- 380006 Road, Shivajinagar,Pune-411 090
Tel: +91-79-26585049, 26585494, 26584924, Tel: + 91-20-25561194-25560196; Fax: +91-20-25561231
Tele Fax: +91-79-25569231
Hyderabad
Mr. Jayanta Chatterjee
Mobile: 9845099459
Email: [email protected]

4th Floor, SHOBHAN, 6-3-927/A&B. Somajiguda, Raj


Bhavan Road, Hyderabad—500083
Tel:- +91-40-40676500

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