Ind Ra affirms Suprajit Engineering's long-term issuer rating at 'AA/Stable'

Ind-Ra continues to take a consolidated view of SEL and its wholly-owned subsidiaries.

Aug 26, 2021 09:08 IST India Infoline News Service

India Ratings and Research (Ind-Ra) has affirmed Suprajit Engineering Limited’s (SEL) Long-Term Issuer Rating at ‘IND AA’. The Outlook is Stable.

Short-term issue rating has been affirmed at IND A1+.

Ind-Ra continues to take a consolidated view of SEL and its wholly-owned subsidiaries Suprajit Europe Ltd, Suprajit Automotive Pvt Ltd and Suprajit USA Inc. owing to the strong legal, operational and strategic linkages among them.

According to Ind Ra, a substantial improvement in the revenue, along with a further diversification in the business profile, and an improvement in the return on capital employed, while maintaining the profitability and credit metrics, all on a sustained basis, may lead to a positive rating action.

At around 9:46 AM, Suprajit Engineering was trading at Rs324.35 apiece up by Rs2.15 or 0.67% on the BSE.

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