Home / Knowledge / News / Textiles / CRISIL 'A-' & 'P2+' for Gloster Jute Mills' bank facilities
CRISIL 'A-' & 'P2+' for Gloster Jute Mills' bank facilities
31
Mar '09
CRISIL has assigned ratings of 'A-/Stable/P2+' to the various bank facilities of Gloster Jute Mills Ltd (Gloster). The ratings are supported by Gloster's diversified product profile and average financial risk profile. These rating strengths are, however, partly mitigated by Gloster's substantial presence in the overseas market which may put pressure on operating margins coupled with its exposure to risks relating to the regulated nature of the jute industry.

Rs.161.5 mn Term Loans -- A-/Stable (Assigned)
Rs.210 mn Cash Credit* -- A-/Stable (Assigned)
Rs.70 mn Foreign Bill Discounting -- P2+ (Assigned)
Rs.90 mn Letter of Credit -- P2+ (Assigned)
Rs.41.5 mn Bank Guarantee -- P2+ (Assigned
* Rs.100 million interchangeable with EPC.

Outlook: Stable
CRISIL believes that Gloster will maintain a stable business risk profile over the medium term, despite significant presence in the overseas market, on account of focus on value-added products. The financial profile is expected to remain steady, driven by healthy accruals and comfortable gearing and debt protection ratios. The outlook may be revised to 'Positive' if sustained improvement in profitability and accruals leads to a significant improvement in financial profile for Gloster. Conversely, a significant increase in debt owing to capital expenditure and acquisitions or decline in profitability on account of slower demand and pricing power, particularly in the global markets, may drive a revision in outlook to 'Negative'.

Incorporated in 1992, Gloster manufactures jute and jute products. Its factory is at Howrah (West Bengal).The company produces jute bags, geo-textiles, jute carpets, jute yarn, non-woven jute felts, hydrocarbon-free jute bags, and other value-added products.

CRISIL


Must ReadView All

Maintain NAFTA trucking provisions: AAFA, US trade bodies

Apparel/Garments | On 22nd Nov 2017

Maintain NAFTA trucking provisions: AAFA, US trade bodies

The American Apparel & Footwear Association (AAFA) recently joined...

Vietnam’s textile & garment exports cross $24bn till Oct

Textiles | On 22nd Nov 2017

Vietnam’s textile & garment exports cross $24bn till Oct

Vietnam earned $24.372 billion from textile and garment exports in...

Karl Mayer unveils TMJ 4/1-T terry warp knitting machine

Textiles | On 22nd Nov 2017

Karl Mayer unveils TMJ 4/1-T terry warp knitting machine

Karl Mayer, a technology and market leader in textile machinery from...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Sugandha Bhardwaj

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

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

November 2017

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
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

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
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

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
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

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
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


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