CARE reaffirms ‘CARE A3+’ rating to Khadim India’s short-term facilities; stock skids ~2%

Khadim India Limited knowledgeable that CARE Rankings have reaffirmed the scores assigned to the corporate’s financial institution services price Rs194.37 crore.
This consists of long-term financial institution services price Rs162.87 crore and short-term financial institution services price Rs31.50 crore.

The score company has assigned a ‘CARE BBB’ score to long-term services together with a Secure Outlook on the identical.

Additional, the score of short-term services has been reaffirmed at ‘CARE A3+’.

The reaffirmation of the scores assigned to Khadim India’s financial institution services displays the advance in monetary efficiency throughout FY22 (refers back to the interval April 1 to March 31), regardless of the impression of the second wave of the pandemic in Q1FY22 and omicron in Q4FY22, which impacted retail demand, and a rise in GST charges on footwear beneath Rs1,000 per pair, which impacted demand within the distributor enterprise section.

At round 3.23 PM, Khadim India was buying and selling at Rs196.35 down by Rs3.65 or 1.83% from its earlier closing of Rs200 on the BSE. The scrip touched as we speak’s excessive and low of Rs201.95 and Rs195.70 respectively.