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ACUITE A- long-term rating assigned to Superhouse Limited

Posted On: 2021-03-03 23:32:29 (Time Zone: Arizona, USA)


Acuité has assigned the long-term rating of 'ACUITE A-' (read as ACUITE A minus) and the short term rating of 'ACUITE A2+' (read as ACUITE A two plus)on the Rs. 30.00 crore bank facilities of Superhouse Limited (SL). The outlook is 'Stable'.

The ratings assigned derive comfort from extensive experience of promoters spanning over four decades in leather industry, long track record of operations, group's strong distribution network and reputed as well as diversified customer base across various industries. The rating assigned also factors in healthy financial risk profile of the group marked by low gearing of 0.52 times as on 31st March 2020, improved debt-coverage indicators as evident from the interest coverage ratio increase 3.45 times in FY2020 and debt service coverage ratio 1.58 times in FY2020. The group has strong net worth of Rs. 347.19 crore as on 31st March 2020 as a result of moderate profitability and healthy ploughing back of profits. On the contrary, ratings are constrained on account of working capital intensive nature of industry, foreign exchange risk exposure and intense competition in the industry. Going forward, the ability of the group to further sustain its scale of operations along with the effective management of its working capital cycle and financial risk profile would be the key rating sensitivities.

Shares of SUPERHOUSE LTD. was last trading in BSE at Rs.130.9 as compared to the previous close of Rs. 129.55. The total number of shares traded during the day was 2267 in over 181 trades.

The stock hit an intraday high of Rs. 133.55 and intraday low of 130. The net turnover during the day was Rs. 299462.


Source: Equity Bulls

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