Press Release Elec Steel Processing Industries

1 CARE Ratings Limited Press Release elec Steel Processing Industries February 06, 2018 Ratings Facilities Amount (Rs. crore) Ratings1 Rating Action Long Term Bank facilities (enhanced from ) CARE BB; Stable (Double B; Outlook: Stable) Reaffirmed Short Term Bank facilities (enhanced from ) CARE A4 (A Four) Reaffirmed Total Facilities (Rupees Twenty Five crore and Eighty Three lakh only) Details of instruments/facilities in Annexure -1 Detailed rationale The ratings assigned to the bank facilities of elec Steel Processing Industries (ESPI) continue to remain constrained on account of its moderate scale of operations, low profitability, weak debt protection metrics and moderate liquidity position in FY17 (refers to the period April 01 to March 31). The ratings further remains constrained on account of susceptibility of margins to fluctuations in raw material prices and foreign exchange rates and ESPI s presence into competitive transformer laminations industry with exposure to cyclicality inherent to the power sector.

1 CARE Ratings Limited Press Release Elec Steel Processing Industries February 06, 2018 Ratings Facilities Amount (Rs. crore) Ratings1 Rating Action Long Term Bank facilities 10.83

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