Credit rating agency, CARE has reaffirmed ‘A’ rating to Panama Petrochem’s long term bank facilities worth Rs 20 crore and ‘A1’ rating to company’s Short term Bank Facilities worth Rs 354 crore which was enhanced from Rs 354 crore. The ratings continue to factor in experienced management of Panama Petrochem (PPL), its diverse product portfolio and wide customer base.
Furthermore, the ratings also factor the favourable capital structure with low leverage. The ratings, however, continue to be constrained by PPL’s limited value addition, significant competition the company faces from domestic players as well as imports, volatility in the prices of the company’s key raw materials and its susceptibility to foreign exchange fluctuations.
Panama Petrochem (PPL) is engaged in the business of manufacturing specialty petroleum products. The product portfolio of the company consists of over 80 product variants and includes liquid paraffin oils, petroleum jelly, ink oils, antistatic coning oil, rubber process oils, transformer oils, cable filling compounds and paraffin wax.
Company Name | CMP |
---|---|
Castrol India | 198.55 |
Savita Oil Tech | 478.20 |
Gulf Oil Lubricant | 1023.95 |
Gandhar Oil Refinery | 205.35 |
Panama Petrochem | 326.55 |
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