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Ind Ra affirms Polycab India's long-term rating at 'AA+/Stable'

The affirmation reflects the improvement in PIL’s operating performance in FY22.

September 06, 2022 2:31 IST | India Infoline News Service
India Ratings and Research (Ind-Ra) has affirmed Polycab India Limited’s (PIL) Long-Term Issuer Rating at ‘IND AA+’. The Outlook is Stable. Further, the short-term banking rating and commercial paper has been affirmed at 'IND A1+'.

As per the rating rationale report, Ind-Ra continues to take a consolidated view of PIL and its subsidiaries to arrive at the ratings, because of its majority shareholding in these entities.

The affirmation reflects the improvement in PIL’s operating performance in FY22, led by healthy growth in cables and wires (C&W) and fast-moving electrical goods (FMEG) segments and its improving business-to-consumer (B2C) focus.

At around 2:29 PM, Polycab India Ltd is currently trading at Rs2,495.10 per share down by Rs2.25 or 0.09% from its previous closing of Rs2,497.35 per share on the BSE.

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