Adv
LANGUAGES
English
Hindi
Spanish
French
German
Chinese_Simplified
Chinese_Traditional
Japanese
Russian
Arabic
Portuguese
Bengali
Italian
Dutch
Greek
Korean
Turkish
Vietnamese
Hebrew
Polish
Ukrainian
Indonesian
Thai
Swedish
Romanian
Hungarian
Czech
Finnish
Danish
Filipino
Malay
Swahili
Tamil
Telugu
Gujarati
Marathi
Kannada
Malayalam
Punjabi
Urdu
08 JANUARY 2016 AL CIRCLE

Ess Dee Aluminium shares dip as rating agency downgrades debt

1MINS READ
Ess Dee Aluminium has dipped 16% to INR 216 on the BSE after rating agency CARE downgraded the company’s debt.

“CARE has revised rating assigned to bank facilities of Ess Dee Aluminium. The ratings for fund-based long term bank facilities worth INR 180 crore and long term non-convertible debentures of INR 30 crore to D from BBB- each,” the rating agency said in a release dated January 6, 2016. It also revised rating for non-fund-based short term bank facilities worth INR 335 crore to D from A3.

The rating agency said the revision in the ratings of Ess Dee Aluminium Limited takes in to account the ongoing delays in debt servicing owing to the strained liquidity position.

Since November 9, 2015 the stock declined 33% from INR 323 after the company reported consolidated net loss of INR 15.44 crore for the quarter ended September 2015. It had profit of INR 14.10 crore in the same quarter previous year. Net sales declined by 40% to INR 133 crore over the previous year quarter. The S&P BSE Sensex was down 4.5% during the same period.

Ess Dee Aluminium is engaged in manufacturing of aluminium foil based high-end packaging solutions for pharmaceuticals, FMCG and confectionery industry.


Adv
Adv
Adv
Adv
Adv
Adv
Adv
1MINS READ

Responses

Adv
Adv
Adv
Loading...
Adv
Adv
Adv
Loading...
Reports VIEW ALL
Loading...
Loading...
Business Leads VIEW ON AL BIZ
Loading...
Adv
Adv
Would you like to be
featured with us?
Loading...

AL Circle: Aluminium Ecosystem App

A proud
ASI member
© 2026 AL Circle. All rights reserved. AL Circle is not responsible for content from external sources.