CRISIL reaffirms rating on Godawari Power -; Ispat's bank facilities; Stock gains 1%

15 Dec 2022 , 10:29 AM

CRISIL Ratings has revised its rating outlook on the long-term bank facilities of Godawari Power and Ispat Limited (GPIL) to ‘Positive’ from ‘Stable’, while reaffirming the rating at ‘CRISIL A+’; the short-term rating has been reaffirmed at ‘CRISIL A1’.

As per the rating rationale report, the positive outlook reflects expectation of continuation of healthy financial risk profile along with improvement in business risk profile over the medium term. 

The ratings continue to reflect the healthy business risk profile of GPIL, driven by integrated operations, established market position in the domestic steel industry and improved financial risk profile.

These strengths are partially offset by exposure to cyclicality in the steel industry and greenfield capex planned over the medium term.

CRISIL Ratings has combined the business and financial risk profiles of GPIL and its subsidiaries, associates and joint ventures.

At around 10:35 AM, Godawari Power & Ispat Ltd is currently trading at Rs368.55 per share up by Rs4.25 or 1.17% from its previous closing of Rs364.30 per share on the BSE.

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