CRISIL Rates Pokarna Ltd and Subsidiary with A-/Stable Ratings on Bank Facilities
Pokarna Limited and its material wholly owned subsidiary, Pokarna Engineered Stone Limited, have received credit ratings from CRISIL for their bank facilities. According to the review, the company and its subsidiary have been assigned ratings of CRISIL A-/Stable for the long term and CRISIL A2+ for the short term, reflecting the stability of their debt facilities.The ratings address the bank facilities of both entities. For Pokarna Limited, the total bank loan facilities rated stand at Rs. 34.98 crore. For the subsidiary, Pokarna Engineered Stone Limited, the total bank loan facilities rated total Rs. 651.52 crores.
The key rating details are summarized below:
| Company | Total Bank Loan Facilities Rated | Long Term Rating | Short Term Rating |
|---|---|---|---|
| Pokarna Limited | Rs. 34.98 crore | CRISIL A-/Stable | CRISIL A2+ |
| Pokarna Engineered Stone Limited | Rs. 651.52 crores | CRISIL A-/Stable | CRISIL A2+ |
Pokarna Engineered Stone Limited Facilities Breakdown
The rating letter for Pokarna Engineered Stone Limited also provided a bank-wise breakdown of the facilities, totaling Rs. 651.52 crores. The details provided for the outstanding facilities are:| S.No. | Bank Facility | Bank | Amount (Rs. in Crore) | Outstanding Rating |
|---|---|---|---|---|
| 1 | Foreign Bill Discounting | Union Bank of India | 105.25 | Crisil A2+ |
| 2 | Letter of Credit | Union Bank of India | 25 | Crisil A2+ |
| 3 | Long Term Loan | Union Bank of India | 521.27 | Crisil A-/Stable |
| Total | 651.52 |
The rating assignments indicate that CRISIL's review reflects the likelihood of timely payment for the obligations under the rated instrument. These ratings are subject to continuous surveillance and review by CRISIL Ratings.
POKARNA Stock Price Movement
Shares of Pokarna Limited are edging higher to ₹835.8 as of 10:16 AM today, marking a substantial gain of 1.40%. The stock continues to trade on a volume of 20,185 shares, sustaining its upward momentum in the live market.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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