Fitch rates Alankit Lifecare, loan BB-(ind)

Fitch Ratings said it assigned Alankit Lifecare Ltd. a national long-term rating of BB-(ind), along with a BB-(ind)/F4(ind) rating to its fund-based working capital limits of Rs. 100 million.

The outlook is stable.

The ratings are derived from its presence in India's nascent, but growing organized retail pharmacy market, as well as its established relationships in dealings with large government clients, Fitch said.

The ratings also benefit from strong revenue growth on the back of winning successive government contracts over the last four years, the agency said.

The ratings are constrained by the company's small scale of operations, low margins, presence in a highly competitive market, geographical concentration in Delhi region and limited track record of operations in the retail chain segment, Fitch added.

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