CRISIL reaffirms credit rating on Krypton Industries' bank facilities; Stock up ~2%

4 Aug 2022 , 02:06 PM

CRISIL Ratings has upgraded its rating on the long-term bank facilities of Krypton Industries Limited (KIL) to ‘CRISIL BB/Stable’ from ‘CRISIL BB-/Stable’. The short-term rating has been reaffirmed at ‘CRISIL A4+’.

According to the rating rationale report, the rating upgrade reflects sustained improvement in the overall credit profile of KIL over the past few fiscals. 

The rating reflects the company’s stable relationships with customers in the polyurethane (PU) tyre segment. This strength is partially offset by susceptibility to volatility in raw material prices and large working capital requirement, the rating agency said.

At around 2:07 PM, Krypton Industries was trading at Rs22.90 per share up by Rs0.4 or 1.78% from its previous closing of Rs22.50 per share on the BSE.