CRISIL Reaffirms Ratings for Nahar Industrial Enterprises Ltd.'s Bank Facilities, Totaling Rs 1100 Crore
Crisil Ratings has reaffirmed and assigned ratings on the bank facilities of Nahar Industrial Enterprises Limited. The rating covers a total bank loan facility amount of Rs 1100 Crore, which is an enhancement from previously rated facilities totaling Rs 1000 Crore.The company's debt instruments and banking arrangements were reviewed by CRISIL, resulting in reaffirmations across both long-term and short-term categories. The Long Term Rating assigned by Crisil Ratings is A-/Stable, while the Short Term Rating is A2+. These ratings relate to the comprehensive suite of bank facilities provided to Nahar Industrial Enterprises Limited.
The rated facilities include various forms of credit extending through different financial institutions. The detailed breakdown of these services and their respective ratings is summarized below:
| Facility Type | Total Amount Rated (Rs in Crore) | Rating |
|---|---|---|
| Cash Credit | 76.2 + 56.4 + 111.7 + 186.5 + 49.2 = 470.0 | Crisil A-/Stable |
| Letter of credit & Bank Guarantee | 14.6 + 19 + 10 + 15.4 = 59.0 | Crisil A2+ |
| Long Term Loan (Existing) | 106.9 + 37.36 + 191.81 + 130.58 = 466.65 | Crisil A-/Stable |
| Proposed Long Term Bank Loan Facility | 23.8 + 16.55 = 40.35 | Crisil A-/Stable |
| Total Rated Facilities | 1100 |
The detailed bank-wise breakdown of the outstanding facilities and their assigned ratings is provided in the table below, showing the involvement of major banks:
| Facility Class | Bank | Amount (Rs. in Crore) | Rating |
|---|---|---|---|
| Cash Credit | State Bank of India | 186.5 | Crisil A-/Stable |
| Cash Credit | IDBI Bank Limited | 111.7 | Crisil A-/Stable |
| Cash Credit | Indian Bank | 76.2 | Crisil A-/Stable |
| Cash Credit | Bank of Baroda | 49.2 | Crisil A-/Stable |
| Cash Credit | Punjab National Bank | 56.4 | Crisil A-/Stable |
| Letter of credit & Bank Guarantee | IDBI Bank Limited | ul | Crisil A2+ |
| Long Term Loan | Axis Bank Limited | 191.81 | Crisil A-/Stable |
| Long Term Loan | HDFC Bank Limited | 130.58 | Crisil A-/Stable |
| Long Term Loan | Indian Bank | 106.9 | Crisil A-/Stable |
| Long Term Loan | State Bank of India | 37.36 | Crisil A-/Stable |
The facilities covered include Cash Credit, Letter of credit and Bank Guarantee, and Long Term Loans, spanning various financial institutions.
NAHARINDUS Stock Price Movement
As of 12:03 PM, shares of Nahar Industrial Enterprises Limited are slipping by 1.81% in live trading, with the stock currently priced at ₹120. The company has traded within an intraday range set between a low of ₹119 and a high of ₹124, having transacted 10,871 shares so far today.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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