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CARE reaffirms ratings of Yuken India Limited

Posted On: 2019-10-11 15:18:55


CARE Ratings Ltd has reaffirmed the credit ratings of Yuken India Limited.

Long-term Bank Facilities - Rs. 22.00 crore - CARE BBB; Stable (Triple B; Outlook: Stable) - Reaffirmed

Short-term Bank Facilities - Rs. 7.00 crore - CARE A3+ (A Three Plus) - Reaffirmed

The ratings assigned to the bank facilities of Yuken India Limited (YIL), continue to take into consideration the consistent improvement in operational performance as the foundry unit continued to make profits during FY19. The ratings continue to derive strength from experience of its promoters Yuken Kogyo Company Limited, Japan (YKC), its established track record of more than four decades, and established relationship with reputed clientele. CARE also takes note of the cash flows from the Brigade project and receipt of Rs. 22 Cr until August, 2019.

The ratings continue to be constrained by exposure of profitability to volatility associated with the key raw material prices and moderate capital structure. Company has also lined up sizeable investment plan exposing it to implementation and stabilization risk.

Going forward, ability of the company to sustain the improved operational performance while improving its capital structure would be the key rating sensitivities. At the same time, realization of envisaged revenue from the monetization of its land would also weigh positively on the credit profile of the company, while any debt funded capex will weigh negatively on the overall credit profile.

Shares of YUKEN INDIA LTD. was last trading in BSE at Rs.510.05 as compared to the previous close of Rs. 510.45. The total number of shares traded during the day was 1106 in over 74 trades.

The stock hit an intraday high of Rs. 514.7 and intraday low of 505. The net turnover during the day was Rs. 563354.


Source: Equity Bulls

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