CRISIL reaffirms rating of Orient Bell Ltd's bank facilities

CRISIL has reaffirmed its 'CRISIL A-/Negative/CRISIL A2+' ratings on the bank facilities of Orient Bell Limited (OBL).

The ratings continue to reflect the company's established market position in the tiles industry, its diversified geographical reach and clientele, and comfortable financial risk profile. These strengths are partially offset by vulnerability to cyclicality in the end-user real estate industry and to fluctuations in gas and raw material prices, and exposure to intense competition.

The ratings take cognizance of the impact of the government measures, including a nationwide lockdown from March 25, 2020, to contain the spread of Covid-19 and the subsequent economic slowdown, on the company business risk profile. Partial easing of the lockdown measures from June 8, 2020, should limit the impact, with performance expected to recover in the second half of fiscal 2021.

Shares of ORIENT BELL LIMITED was last trading in BSE at Rs.104.55 as compared to the previous close of Rs. 108.25. The total number of shares traded during the day was 3949 in over 170 trades.

The stock hit an intraday high of Rs. 107.75 and intraday low of 104. The net turnover during the day was Rs. 416315.

Source : Equity Bulls

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