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Made in Madurai                

Thursday, December 22, 2011

Aruna Alloy Steels Madurai is stable: Fitch Rating - Reuters

Fitch Ratings has affirmed India-based Aruna Alloy Steels Private Ltd's (Aruna) National Long-Term Rating at 'Fitch BB+(ind)'.

Incorporated in 1961, Aruna is a Madurai-based steel and alloy castings manufacturer. It owns three manufacturing facilities in Madurai with a total capacity of 10,800 metric tones per annum. The company operates three windmills with a combined capacity of 2.6MW. In FY11, the company reported an operating income of INR701.7m (FY10: INR564.9m), an operating EBITDA of INR124.2m (INR87.3m) and total debt outstanding of INR236.1m (INR198m).

Aruna's facilities have been affirmed as follows:

- INR90m fund-based working capital limits: 'Fitch BB+(ind)/Fitch A4+(ind)'

- INR1m non-fund based working capital limits: 'Fitch A4+(ind)'

- INR13.9m long-term loans: 'Fitch BB+(ind)'

Aruna Alloy Steels Pvt.Ltd

Melur Road,
Olaganeri Village,
Uthangudi Post,
Madurai-625 107
Tel: 91-452-2433324(5 Lines)
Fax: 91-452-2422580
Email : aruna@arunasteel.com




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