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Damodar Industries Limited Capital/Financing Update 2021
61498_rns_2021-03-16_68912088-52ad-40a7-8224-bf8738199762.pdf
Capital/Financing Update
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Date: Marah 16, 2021
TO, The Manager -CRD BSE Limited Phiroze Jeejeebhoy Towe6, Dalal Stred, Fort Mumbai-400001 Ref,: Script Code 521220
To,
National Stock Exchange of lndia Limited The Corporate Relation Department, Exchange Plaza, Plot no. C/1, G Block Bandra - Kurla Complex Bandra (E) Mumbai -400051 Script Symbol : DAMODARIND
Dearsir/Madam,
Sub: Disclosure under regulation 30 of the SEBI {Listing Obligations and Disclosure Requirements},2015.
With reference to the provisions of the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations,2o1s, it is hereby informed that there has been a change in the credit rating by 'tRlslL Ratings Limited" ofthe Company, letter dated March 9, 2021. The same is as given below.
| Facilities | Rating | ||
|---|---|---|---|
| Total Bank Loan Facilities Rated | Rs. 27O Crore | ||
| lons Term RatinP | cRtstL BB+/stable (Asstgned) | ||
| Short Term Rating | CRlSlLA4+ (Assigned) |
This is foryour information and records Please.
Thankingyou,
Fdr Damodar lndustries Limited
Subodh Xumar Soni
Reg.d.Offi.e | 19/22 &2'l/30,Madhu Estate, Pandunng Budhkar Marg, Worli, Mumbai - 4O0 013. Tel | + 91-22-6661O3OU021O5, + 9I-22497631A013203
Factory : Survey No. 265 / 10 / 1, Demni Road, Dadm Village, D,& N. H. lU. T.) - 396 230 Tel.: 0260 3253390 :T- 26, MIDC Amravati, Addl. lndl. Area, MIDC, Textile Park Nandgaon Peth, Maharashtm - 444 901.
CONFIDENTIAL
RL/DTLTD/266916/BLR/0321/04077 March 09, 2021
Mr. Arun Biyani Damodar Industries Limited A1/202 Centre Point Condominium 243- A, N M Joshi Marg Lower Parel (E) Mumbai City - 400013 Tel - 9320396963
Dear Mr. Arun Biyani,
Re: Assignment of CRISIL Ratings to the bank facilities of Damodar Industries 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.270 Crore |
|---|---|
| Long Term Rating | CRISIL BB+/Stable (Assigned) |
| Short Term Rating | CRISIL A4+ (Assigned) |
(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,
Jumana Badshah 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. in Crore) |
Outstanding Rating |
|---|---|---|---|---|
| 1 | Bank Guarantee | State Bank of India | 2.0 | CRISIL A4+ |
| 2 | Cash Credit | State Bank of India | 52.0 | CRISIL BB+/Stable |
| 3 | Cash Credit | YES Bank Limited | 5.0 | CRISIL BB+/Stable |
| 4 | Cash Credit | HDFC Bank Limited | 21.0 | CRISIL BB+/Stable |
| 5 | Cash Credit | Kotak Mahindra Bank Limited | 30.0 | CRISIL BB+/Stable |
| 6 | Cash Credit | Bank of Baroda | 16.0 | CRISIL BB+/Stable |
| 7 | Foreign Exchange Facility | State Bank of India | 3.0 | CRISIL A4+ |
| 8 | Letter of Credit | State Bank of India | 4.0 | CRISIL A4+ |
| 9 | Letter of Credit | YES Bank Limited | 5.0 | CRISIL A4+ |
| 10 | Term Loan | State Bank of India | 62.0 | CRISIL BB+/Stable |
| 11 | Term Loan | YES Bank Limited | 60.0 | CRISIL BB+/Stable |
| 12 | Term Loan | Kotak Mahindra Bank Limited | 10.0 | CRISIL BB+/Stable |
| Total | 270 |
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