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APOLLO PIPES LIMITED Capital/Financing Update 2021
60327_rns_2021-03-26_4e293a00-c3fc-4989-a293-485ec4cec863.pdf
Capital/Financing Update
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March 26, 2021
The National Stock Exchange of India Limited Exchange Plaza", 5th Floor, Plot No. C/1, G Block, Bandra-Kurla Complex,Bandra (East), MUMBAI - 400 051
NSE Symbol: APOLLOPIPE
Department of Corporate Services/Listing· BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, MUMBAI - 400 001
SCRIP Code: 531761
Re: Disclosure under Regulation 30 of SEBI {Listing Obligations and Disclosure Requirements) Regulations, 2015
Dear Sir/Madam,
This is to inform you that CRISIL Ratings has reviewed the credit ratings on the bank loan facilities of the Company as below:
| TotalBankFacilitiesLoanRated | Rs.180.2Crore |
|---|---|
| LongTermRating | CRISILA-/Positive(Outlookrevisedfrom'Stable'and |
| ratingreaffirmed) | |
| RatingShort-Term | (Reaffirmed)CRISILA2+ |
Please find enclosed herewith the Rating Certificate issued by CRISIL.
We request you to kindly take the above information on your record.
Thanking you.
Encl: a/a
APOLLO PIPES LIMITED
Regd. Office: 37, Hargobind Enclave, Vikas Marg, Delhi-110092, India Corporate Office: A-140, Sector-136, Noida-201301 (U.P.),India Manufacturing Unit : Dadri (U.P.),Sikandrabad (U.P.),Ahmedabad (Gujarat), Tumkur (Karnataka), India Tel: 0120-2973411 I Toll Free No. : 1800-121-3737 I Email: [email protected] Website : www.apollopipes.com I CIN : L65999DL 1985PLC022723
CONFIDENTIAL
RL/APLP/267834/BLR/0321/05177 March 26, 2021
Mr. Ajay Kumar Jain Chief Financial Officer Apollo Pipes Limited 37, Hargobind Enclave, Vikas Marg, East Delhi - 110092 8130007661
Dear Mr. Ajay Kumar Jain,
Re: Review of CRISIL Ratings on the bank facilities of Apollo Pipes Limited
All ratings assigned by CRISIL Ratings are kept under continuous surveillance and review.
Please find in the table below the ratings outstanding for the debt instruments/facilities of the company, and the rating actions by CRISIL Ratings on the ratings as on date.
| Total Bank Loan Facilities Rated | Rs.180.2 Crore |
|---|---|
| Long Term Rating | CRISIL A-/Positive (Outlook revised from 'Stable' andrating reaffirmed) |
| Short Term Rating | CRISIL A2+ (Reaffirmed) |
(Bank-wise details as per Annexure 1)
As per our Rating Agreement, CRISIL Ratings would disseminate the ratings, along with the outlook, through its publications and other media, and keep the ratings, along with the outlook, under surveillance over the life of the instrument/facility. CRISIL Ratings reserves the right to withdraw, or revise the ratings, along with the outlook, at any time, on the basis of new information, or unavailability of information, or other circumstances which CRISIL Ratings believes may have an impact on the ratings.
In the event of the company not availing the proposed facilities within a period of 180 days from the date of this letter, a fresh letter of revalidation from CRISIL Ratings will be necessary.
Should you require any clarification, please feel free to get in touch with us.
With warm regards,
Yours sincerely,
Ankit Kedia Nivedita Shibu Associate Director - CRISIL Ratings Associate Director - CRISIL Ratings
Disclaimer: A rating by CRISIL Ratings reflects CRISIL Ratings' current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by CRISIL Ratings. Our ratings are based on information provided by the issuer or obtained by CRISIL Ratings from sources it considers reliable. CRISIL Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by CRISIL Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. CRISIL Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. CRISIL Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. CRISIL Ratings' criteria are available without charge to the public on the web site, www.crisil.com. CRISIL Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by CRISIL Ratings, please contact Customer Service Helpdesk at [email protected] or at 1800-267-1301.
CRISIL Ratings Limited
(A subsidiary of CRISIL Limited) Corporate Identity Number: U67100MH2019PLC326247
Annexure 1 - Bank-wise details of various facility classes (outstanding facilities)
| S.No. | Bank Facility | Bank | Amount (Rs. inCrore) | Outstanding Rating |
|---|---|---|---|---|
| 1 | Bank Guarantee | Kotak Mahindra Bank Limited | 20 | CRISIL A2+ |
| 2 | Cash Credit | HDFC Bank Limited | 20 | CRISIL A-/Positive |
| 3 | Cash Credit | Axis Bank Limited | 31 | CRISIL A-/Positive |
| 4 | Letter of Credit | DBS Bank Limited | 35 | CRISIL A2+ |
| 5 | Letter of Credit | HDFC Bank Limited | 30 | CRISIL A2+ |
| 6 | Proposed Long Term BankLoan Facility | -- | 1.5 | CRISIL A-/Positive |
| 7 | Term Loan | Citibank N. A. | 19.2 | CRISIL A-/Positive |
| 8 | Term Loan | Axis Bank Limited | 8.5 | CRISIL A-/Positive |
| 9 | Term Loan | HDFC Bank Limited | 15 | CRISIL A-/Positive |
| Total | 180.2 |
1. Interchangeable with fund-based facility to the extent of Rs 18.0 crore
3. Fully Interchangeable with Non Fund based facility to the extent of Rs. 31 Crores
4. Interchangeable with Fund based facility to the extent ofRs 35.0 crore
Disclaimer: A rating by CRISIL Ratings reflects CRISIL Ratings' current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by CRISIL Ratings. Our ratings are based on information provided by the issuer or obtained by CRISIL Ratings from sources it considers reliable. CRISIL Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by CRISIL Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. CRISIL Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. CRISIL Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. CRISIL Ratings' criteria are available without charge to the public on the web site, www.crisil.com. CRISIL Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by CRISIL Ratings, please contact Customer Service Helpdesk at [email protected] or at 1800-267-1301.
CRISIL Ratings Limited
(A subsidiary of CRISIL Limited) Corporate Identity Number: U67100MH2019PLC326247