CRISIL revises Kesoram Industries' rating outlook to 'Positive', reaffirms rating

24 Mar 2022 , 01:47 PM

CRISIL Ratings has revised its outlook on the optionally convertible debentures (OCDs) and non-convertible debentures (NCDs) of Kesoram Industries Ltd (KIL) to ‘Positive’ from ‘Stable’ and reaffirmed the rating at ‘CRISIL BB+’.

As per rationale, the revision in outlook reflects CRISIL Ratings’ expectation that KIL’s credit risk profile may improve in the near term.

The ratings reflect KIL’s established market position in the cement industry and improved operating performance. These strengths are partially offset by modest yet improving financial risk profile, exposure to refinancing risk and exposure to cyclicality in the cement industry.

On Thursday at around 1:50 PM, Kesoram Industries was trading at Rs51.85 apiece down by Rs0.15 or 0.29% on Sensex.