CARE revises credit ratings assigned to Talbros' bank facilities; stock adds ~1%

5 Apr 2022 , 12:35 PM

Talbros Automotive Components Limited informed that Care Ratings has revised the credit rating on the bank facilities and fixed deposits of the company.

Care Ratings has revised the ratings assigned to the company’s long-term bank facilities worth Rs124.74 crore from existing ‘CARE A/Stable’ to ‘CARE A-/Stable’.

Talbros’ short-term bank facilities worth Rs45 crore have been assigned a ‘CARE A2+’ rating from the existing ‘CARE A1’.

While company’s fixed deposits worth Rs1.48 crore are rated ‘CARE A-/Stable‘ from existing ‘CARE A’.

The revision in the ratings assigned to the bank facilities of Talbros Automotive Components Limited factors in the improved operational performance of the group during FY21 (refers to the period from April to March) and the current year backed by healthy demand dynamics, particularly Q3FY21 onwards leading to increased volumes including exports along with better profitability margins.

Talbros Automotive Components is currently trading at Rs483.60 up by Rs3.35 or 0.7% from its previous closing of Rs480.25 on the BSE. The scrip touched intraday high and low of Rs490 and Rs477.25 respectively.