Rallis India said that CRISIL Ratings has reaffirmed its 'CRISIL AA+/Stable/CRISIL A1+' ratings on the bank facilities of the company.
CRISIL Ratings stated that the ratings continue to reflect the companys established position in Indias crop protection market, strong presence in exports, branding and farmer relationship, and an overall comfortable financial risk profile.
The ratings also factor in the strategic importance to the parent, Tata Chemicals (TCL) having 55.08% shareholding in Rallis India, and the consequent operational and need-based funding support available from TCL.
These rating strengths are partially offset by vulnerability to risks inherent in the crop protection segment and working capital-intensive operations.
Rallis India, a part of the Tata group, is one of the leading players in the domestic crop protection sector and manufactures pesticides, herbicides, and fungicides at its factories. These agrochemicals are sold across 80% of Indias districts through an extensive distribution network.
The scrip shed 0.11% to currently trade at Rs 323.15 on the BSE.
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