Home / Knowledge / News / Textiles / CRISIL assigns A+ & P1+ ratings to Vardhman Acrylics
CRISIL assigns A+ & P1+ ratings to Vardhman Acrylics
31
Mar '08
CRISIL has assigned 'A+/Stable/P1+' ratings to the bank facilities of Vardhman Acrylics Ltd (Vardhman Acrylics). The ratings reflect the strong support Vardhman Acrylics gets from its parent, Vardhman Textiles Ltd (Vardhman Textiles), and the company's own established position in the acrylic fibre business.

These rating strengths are partially offset by the exposure of the company's margins to volatility in raw material prices, and the present oversupply situation in the acrylic fibre industry.

Vardhman Acrylics is a part of the Vardhman group. Vardhman Textiles, the group's flagship company, holds a 54.5 per cent stake in the Vardhman Acrylics. The managerial control of the company rests with the group.

Mr. S P Oswal, the Chairman of Vardhman Textiles, is also the Chairman of Vardhman Acrylics. The company has strong operational linkages with its parent: during 2006-07 (refers to financial year, April 1 to March 31); more than 60 per cent of Vardhman Acrylics's turnover was sold to Vardhman Textiles.

CRISIL believes that the strong linkage with Vardhman Textiles will continue to provide stability to Vardhman Acrylics's revenues; CRISIL expects this to be supplemented by some degree of financial support if required.

The acrylic fibre industry is fairly consolidated, with five main players controlling around 90 per cent of the operational capacity in India. Vardhman Acrylics is one of the large players in the industry, with about 15 per cent of the total domestic capacity.


Must ReadView All

Alliance to form joint entity for safety in factories

Textiles | On 24th Apr 2018

Alliance to form joint entity for safety in factories

On the 5th anniversary of the Rana Plaza Collapse, The Alliance for...

China’s Alibaba partners with Thailand for digital trade

Textiles | On 24th Apr 2018

China’s Alibaba partners with Thailand for digital trade

China’s Alibaba Group recently signed an agreement with the Thai...

ACFTA to benefit Egyptian RMG exports: trade body official

Apparel/Garments | On 24th Apr 2018

ACFTA to benefit Egyptian RMG exports: trade body official

Egypt’s readymade garment (RMG) sector’s exports to African countries ...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Urmil Arya

Sushila International, a well established textile organisation established ...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search