By: ICN Bureau
Last updated : May 11, 2021 11:15 am
The ratings also factor in the healthy net worth and comfortable capital structure of the Group at a consolidated level
ICRA has assigned credit ratings to Jayant Agro-Organics Limited for Rs350 crore (enhanced from Rs 50 crore) and its material unlisted subsidiary company viz. Ihsedu Agrochem Private Limited for Rs 432 crore (Jayant Agro Group).
The ratings assigned to JAOL takes into account the extensive experience of the promoters of over five decades in the castor oil industry and the Jayant Group's leadership position in the castor oil and castor oil-based derivatives business.
The ratings also factor in the healthy net worth and comfortable capital structure of the Group at a consolidated level.
The stable outlook reflects ICRA’s expectations that while the consolidated revenue for the Group would be impacted by the adverse impact of the Covid-19 pandemic in FY2021, the same should improve rapidly, mainly supported by its leadership position in the castor oil industry.