Prince Pipes and Fittings Ltd - Ratings reaffirmed at 'CRISIL A+ / Stable / CRISIL A1+', CP Withdrawn

CRISIL Ratings has reaffirmed its ratings on the bank facilities of Prince Pipes and Fittings Limited (PPFL) at 'CRISIL A+/Stable/CRISIL A1+'.

CRISIL Ratings has withdrawn its rating on Rs. 50 crore of commercial paper, on receipt of redemption confirmation. The withdrawal is in line with CRISIL Ratings' policy on withdrawal of ratings.

The ratings reflect the strong business risk profile marked by its market position in domestic plastic pipe industry supported by diverse product portfolio, geographical presence, and end-user industry, extensive experience of promoters, and a robust financial risk profile. These rating strengths are partially offset by presence in a highly competitive industry, moderate capacity utilization, susceptibility to volatility in raw material prices, and moderate working capital requirements.

Shares of Prince Pipes And Fittings Limited was last trading in BSE at Rs. 592.00 as compared to the previous close of Rs. 595.60. The total number of shares traded during the day was 5069 in over 582 trades.

The stock hit an intraday high of Rs. 601.00 and intraday low of 589.05. The net turnover during the day was Rs. 3021483.00.

Source : Equity Bulls

Keywords

PrincePipesAndFittings INE689W01016 RatingUpdate