Mumbai, August 14, 2017: Dwarikesh Sugar Industries Ltd, a leading sugar producer in the country, has received the highest credit rating [ICRA] A1+ from rating agency ICRA, for the company’s proposed commercial paper of Rs. 100 crore.
[ICRA]A1+ (pronounced as ICRA A one plus) rating indicates that the instrument has very strong degree of safety regarding timely payment of financial obligations and such instruments carries lower risk.
This rating of Rs 100 crore proposed commercial paper by ICRA is valid till August 10, 2018.
Last month, ICRA had upgraded its long-term rating for Dwarikesh Sugar Industries Ltd’s Rs. 599.99 crore Line of Credit. The rating agency had assigned the upgraded rating of [ICRA] A+ (pronounced ICRA A plus) from [ICRA] A- for the Rs. 599.99 crore Line of Credit.
About Dwarikesh Sugar Industries Ltd (NSE: DWARKESH; BSE: 532610)
Dwarikesh Sugar Industries Ltd is a leading sugar producer. The company has three fully automated and highly efficient sugar mills, located in Uttar Pradesh’s sugarcane-rich belt of Bijnor and Bareilly districts.
The company’s combined production capacity is 21,500 tonnes of sugarcane per day. Modern and technologically advanced units help the company to harness sugar by-products such as ethanol, industrial alcohol and bagasee-based power production as growth enabler.
High recovery, plant efficiencies, cane development initiatives and ethical & transparent conduct of business are the key USPs of the company.
The company’s collaborative approach has helped farmers to improve their yield and maximize their returns. Focused R&D initiatives have enabled the company to ensure streamlined and quality supply of sugarcane, enabling high recovery and production levels.
For more details about the company, please visit www.dwarikesh.com