Shree Tirupati Balajee companies: Under a bit of stress – 10 Feb 2022

Shree Tirupati Balajee Agro Trading Co. Pvt. Ltd. manufactures flexible intermediate bulk containers (FIBC)/jumbo bags as also various types of FIBC bags such as standard bag, baffle bag, conductive bag, cross corner bag, etc., which are used in food, pharmaceutical, mineral and mining, construction and agricultural produce packaging.

There has been an improvement in profits but the company remains highly leveraged with a moderate coverage metrics due to increase in borrowings to fund higher-than-expected capex and working capital requirements

The same story holds true for its associate company Shree Tirupati Balajee FIBC Limited