DCW Limited Credit Ratings upgraded by India Ratings & Research
MUMBAI, India, June 21, 2021 /PRNewswire/ — DCW Limited (“the Company” or “DCW”), a specialty chemicals company headquartered in Mumbai, today announced that leading credit rating agency, India Ratings & Research has upgraded and assigned ratings ‘BBB+’ indicating ‘Stable’ outlook for the Company.
Rating as assigned
Rated Limits (million)
Fund-based working capital limits
Long term/ Short term
IND BBB+/ IND A2
IND BBB /IND A3+
Non-fund-based working capital limits
Commenting on the rating, Mr. Vivek Jain, Managing Director, DCW Ltd., said, “The rating upgrade by the India Ratings and Research is a testament of DCW’s improving financial and operating performance. The upgradation from BBB to BBB+, in such a challenging environment, is reflective of the confidence in the company’s business model and execution capabilities. DCW’s primary focus on Speciality Chemical, and continuous improvement in the capacity utilization, will enhance stakeholders’ confidence in the company’s ability to significantly scale-up operations in the future.”
DCW is a specialty chemicals company, manufacturing PVC, C-PVC (chlorinated polyvinyl chloride), Caustic Soda, Soda Ash, and Synthetic Iron Oxide Pigment (SIOP). The Company is the only domestic manufacturer C-PVC, a versatile thermoplastic used mainly for manufacturing hot and cold-water pipes, industrial liquid handling, and a wide range of products serving a variety of applications. DCW’s Caustic Soda, SIOP and PVC Units are in close proximity to the Tuticorin Port in Tamil Nadu, giving the Company a competitive edge over its peers to export its products to global markets.
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