CARE reaffirms ratings of Panama Petrochem’s bank facilities

15 Dec 2014 Evaluate

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.

Panama Petrochem Share Price

382.90 10.35 (2.78%)
31-Oct-2024 16:01 View Price Chart
Peers
Company Name CMP
Castrol India 210.50
Savita Oil Tech 536.00
Gulf Oil Lubricant 1184.00
Gandhar Oil Refinery 226.00
Panama Petrochem 382.90
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