A B Cotspin India Limited — Updates, 16-01-2025: Press Release

A B Cotspin India Ltd. has received a credit rating of IVR BBB with a Stable outlook for long-term facilities and IVR A3+ for short-term bank loan facilities from Infomerics Ratings. This rating reinforces the company’s credibility, attributed to its solid performance and robust risk management framework. Amid a political crisis in Bangladesh, global retailers are shifting their focus to India for garment imports, indicating a positive market environment for Indian textile manufacturers. The upcoming budget may include financial support and tariff cuts to enhance the domestic textile industry, and production-linked incentives are expected to rise to ₹600 crore. The Managing Director, Deepak Garg, emphasized that this rating reflects the company's commitment to growth and risk minimization, projecting a turnover of ₹284 crore and EBITDA of ₹35-40 crore for FY 2024-25. This development positions A B Cotspin favorably in the evolving market landscape.