Fitch rates MIL Industries BB-(ind)

Fitch Ratings said it assigned MIL Industries Ltd. a national long-term rating of BB-(ind), along with a BB-(ind) rating on its fund-based working capital limits of Rs. 22 million and F4(ind) rating on its non fund-based working capital limits of Rs. 65 million.

The outlook is stable.

The ratings incorporate the company's track record of manufacturing and supplying industrial linings to major players in industries such as fertilizers, chemicals, iron and steel, the agency said.

The ratings are constrained by the small size of operations and vulnerability of profit margins to raw material prices, Fitch added.

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