Credit rating agency, CARE has reaffirmed ‘BBB’ rating to JVL Agro Industries’ bank facilities worth Rs 306.64 crore. The rating agency has revised rating of short term bank facilities worth Rs 2181.50 crore of the company to 'A3+' from 'A3'.
The company has received the said rating reaffirmation on account of better financial performance in 9MFY14, despite sharp volatility in foreign exchange and inverted duty structure for processing of crude palm oil into refined palm oil.
JVL Agro Industries is engaged in the production and trading of hydrogenated vegetable oil (vanaspati) and refined oil in India. The company’s products include saturated fats, refined palmolein and soybean oil, kachi ghani mustard oil, and de-oiled cake.
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