The company states that the assigned rating draws strength from the company’s strong operational profile, backed by its established market position in the domestic electric resistance welded (ERW) pipes industry, its geographically-diversified manufacturing base and a pan-India distribution network, long-standing track record of over four decades and its established brand, "Surya" and "Prakash Surya".
ICRA notes that the steps being taken by the company to streamline its working capital cycle are favourably contributing to the company's cash flow generation and have enabled the company to prepay part of its debt obligations, facilitating faster deleveraging of its balance sheet.
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