Nath Bio Genes Limited assigned Long-Term Issuer Rating of 'BBB+'

Nath Bio Genes (India) Limited ("NBL" or the "Company") is pleased to announce that India Ratings & Research Limited (Ind - Ra), a Fitch Group Company, has assigned NBL a LongTerm Issuer Rating of "BBB+" with a stable outlook. The rating has been assigned to NBL's fund based working capital limits of INR 740 million.

Ind-Ra has considered NBL's strong balance sheet with cash and cash equivalents of INR 219.80 million in FY20, its diversified product mix, wide scale of operations and a strong nearterm outlook as the key drivers for the assigned rating.

The agency also mentions that it expects the credit metrics to remain strong in the near term due to the healthy EBITDA generation. Ind-Ra expects the cash flow from operations to improve further in the near term with a further increase in the EBITDA.

The assigned rating is a testimony of NBL's resilient business model on account of its diversified and de-risked product portfolio and a strong balance sheet.

Shares of Nath Bio-Genes (India) Ltd was last trading in BSE at Rs.398.7 as compared to the previous close of Rs. 378.5. The total number of shares traded during the day was 29248 in over 1566 trades.

The stock hit an intraday high of Rs. 415.5 and intraday low of 380. The net turnover during the day was Rs. 11803592.

Source : Equity Bulls

Keywords