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CRISIL has suspended its ratings ‘B/Negative/P4’ on the bank facilities of Bal Pharma Ltd (BPL). This is because BPL has not been providing any information on its operations and financials to CRISIL; the suspension reflects CRISIL’s inability to maintain a valid rating in the absence of information from BPL.
About the Company
Incorporated in 1987, Bal Pharma was jointly promoted by Mr. Ghevarchand Surana of the Micro Labs group, and the Siroya family. The Micro Labs group is one of the top 20 companies in the Indian pharmaceutical industry. The Dubai-based Siroya family is a diversified group with interests in pharmaceuticals, garments, jewellery, construction, mining, and general trading. Bal Pharma’s product portfolio includes pharmaceutical formulations, active pharmaceutical ingredients, and parenterals. It has manufacturing facilities in Bangalore, Sangli, Pune, and Uttaranchal.
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Media Contacts
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Analytical Contacts
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CRISIL Rating Desk
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Mitu Samar
Head, Market Development & Communications
CRISIL Limited
Tel: +91-22- 3342 1838
Email: msamar@crisil.com
Tanuja Abhinandan
Market Development & Communications
CRISIL Limited
Tel: +91-22-3342 1818
Email: tabhinandan@crisil.com
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Pawan Agrawal
Director - CRISIL Ratings
Tel: +91-22-3342 3301
Email: pagrawal@crisil.com
Ashutosh Satsangi
Head - CRISIL Ratings
Tel: +91-22-3342 3096
Email: asatsangi@crisil.com
| Tel: +1-22-3342 3047 / 3342 3064
Email: CRISILratingdesk@crisil.com
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