CRISIL assigns 'A+/Stable' rating on Electrosteel Castings bank loan facilities

The ratings reflect market leadership in the domestic ductile iron (DI) pipes industry and robust operating efficiency parameters driven by backward integration.

Jul 06, 2021 02:07 IST India Infoline News Service

Electrosteel Casting
CRISIL Ratings has assigned its ‘CRISIL A+/Stable and CRISIL A1’ ratings to bank facilities of Electrosteel Castings Limited.

The ratings reflect market leadership in the domestic ductile iron (DI) pipes industry and robust operating efficiency parameters driven by backward integration.

"The ratings also factor in healthy cash generating ability. These strengths are partially offset by exposure of profitability to volatility in raw material prices and a modest financial profile", according to the report.

CRISIL Ratings will continue to monitor progress with respect to the compensation claim for mining deallocation.

At around 2:20 PM, Electrosteel Castings was trading at Rs38.35 apiece down by Rs1.25 or 3.16% on Sensex.

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