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CRISIL reaffirms ratings on Sharda Motor Industries' credit facilities

CRISIL Ratings believes SMIL will continue to benefit, over the medium term, from its established position, healthy relationships with OEMs.

November 02, 2021 10:04 IST | India Infoline News Service
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CRISIL Ratings has reaffirmed its ‘CRISIL AA-/Stable/CRISIL A1+’ ratings on the bank facilities of Sharda Motor Industries Limited (SMIL).

As per regulatory filing, the rating continues to reflect SMIL’s established market position, healthy relationships with customers, efficient working capital management and strong financial risk profile.

These strengths are partially offset by risks of customer concentration and product concentration in revenue, susceptibility to increase in raw material prices and pricing pressure from original equipment manufacturers (OEMs).

CRISIL Ratings believes SMIL will continue to benefit, over the medium term, from its established position, healthy relationships with OEMs, and steady demand for passenger cars and utility vehicles.

At around 10:05 AM, Sharda Motor Industries was trading at Rs593 per piece lower by 0.89% on Sensex.

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