Kanco Tea and Industries Limited announces update on credit ratings

Acuité has assigned the long term rating of 'ACUITE BBB-' (read as ACUITE triple B minus) and the short term rating of 'ACUITE A3' (read as ACUITE A three) to Rs.38.92 Cr bank facilities of Kanco Tea and Industries Limited (KITL). The outlook is 'Stable'.

The rating on KITL takes into cognizance the improving business risk profile of the company as reflected from its increasing revenue trend coupled with healthy profitability. Further, it is also supported by the management's long track record in the sector and efficient working capital management. The rating draws comfort from the adequate liquidity position of the company. These strengths are however, partly offset by the moderate financial risk profile and the volatility in tea prices and agro climatic conditions.

Shares of Kanco Tea & Industries Ltd was last trading in BSE at Rs. 80.15 as compared to the previous close of Rs. 81.25. The total number of shares traded during the day was 3410 in over 37 trades.

The stock hit an intraday high of Rs. 82.45 and intraday low of 77.80. The net turnover during the day was Rs. 276381.00.

Source : Equity Bulls

Keywords

KancoTeaandIndustries INE398L01017 Tea Coffee