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Titan Industries wins ICRA A1 rating

17
Dec '05
Commercial Paper Programme (CPP) of Titan Industries Limited (TIL) has been ranked A1 by ICRA.

This ranking reveals highest-credit-quality of Rs 10 cr CPP of TIL in the short term.

Ranking proves TIL's strong market share gained by its two major product segments – watches and jewellery.

Moreover, its growth in sales with enhancing profitability in last two years and its improving capitalisation and coverage indicators also indicated by this ranking.

Ranking is however confined to TIL's high level of gearing and its strained liquidity due to higher scheduled debt repayments and capital expenditure.

TIL's investments, loans and advances to its subsidiaries and partner companies are also considered by ranking.


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