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CARE reaffirms rating of Alok Industries' CP / STD

Credit rating agency, CARE has reaffirmed A1 rating to Alok Industries' commercial paper (CP) / short-term non-convertible debentures (STD) worth Rs 1,000 crore.

The company has received the said rating on the back of extensive experience of the promoters and management in the textile business, track record of the company, integrated operations along with the economies of scale and one of the leading players in the textile industry.

Alok Industries has evolved from a small trading business into India's largest integrated textiles player. It is present across the textile value chain - from yarn manufacturing to garmenting. Alok's production facilities are in Silvassa, Vapi and Navi Mumbai. The company also has a presence in the domestic retail segment and in real estate through a wholly-owned subsidiary.

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