Fitch rates Tulsi Castings BBB-(ind)

Fitch Ratings said it assigned Tulsi Castings and Machining Ltd. a national long-term rating of BBB-(ind) with a stable outlook.

The ratings reflect the company's robust business growth. The last financial year to March 2011 saw revenues rise 38% to Rs. 1.31 billion, EBITDA to 24.8% (from 17% in 2010) and production capacity to 48,000 tonnes (from 24,000 tonnes in fiscal 2010).

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