Breaking News

You are here » Indian-Commodity  :  Top News  :  CARE reaffirms rating of Divis Laboratories' bank facilities


CARE reaffirms rating of Divis Laboratories' bank facilities

Credit rating agency, CARE has reaffirmed 'AA+' rating to Divis Laboratories' (DLL) long-term bank facilities worth Rs 25 crore. The rating agency has also reaffirmed 'AA+/A1+' rating to the company's long- term/ short-term bank facilities worth Rs 243 crore.

The ratings assigned to the bank facilities of DLL continue to factor in well-experienced promoters having long track record of operations in the pharmaceutical industry, proven research and development capabilities with a large number of Drug Master Files (DMF) filings, well-equipped manufacturing facilities with the United States Food & Drug Administration (USFDA) and current Good Manufacturing practices (cGMP) certified production units, healthy growth in the revenue coupled with strong profitability margins in FY16 (refers to the period April 1 to March 31), very low debt levels marked by comfortable leverage position and debt risk coverage, healthy liquidity profile and positive industry outlook.

Divis Laboratories is engaged in the manufacturing of generic APIs, Custom Synthesis (CS) of active ingredients for innovator companies and other speciality chemicals like peptides and nutraceuticals. The company four manufacturing units and three R&D centers spread across the states of Telangana and Andhra Pradesh.

Related News

View all news

Crude oil futures end lower on Monday

Crude oil futures ended lower on Monday as steep declines in the US stock market fed an aversion to so-called riskier assets, which include oil. Meanwhile, the US-China trade dispute escalated as China......

Gold futures trade flat on Monday

Gold futures was trading flat on Monday as growing uncertainty over whether the United States and China will be able to reach a deal to end their escalating trade war fueled safe-haven demand for the precious......

Jeera futures trade higher on rising demand

Jeera futures traded higher on NCDEX on the back of rising physical and export demand at the spot market. However, higher availability of crop this season, capped some gains.The contract for May delivery......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......