27 Apr 2022 , 12:00 PM
ICRA has assigned the long-term rating as ‘ICRA BBB+/Stable’. Whilst short-term rating has been confirmed at ‘ICRA A2’.
The total bank facilities reviewed by the rating agency are worth Rs264.72 crore.
The rating reaffirmation takes into account the improved profitability of Premier Explosives Limited (PEL) in 9MFY22, driven by the rising share of defence contracts, a healthy order book that provides revenue visibility, and improved credit profile due to higher cash generation.
The ratings also derive comfort from the healthy order book of Rs401.10 crore at the end of December 2021 with the defence sector and the O&M services segment comprising 73% of the order book.
Premier Explosives is currently trading at Rs392 down by Rs0.6 or 0.15% from its previous closing of Rs392.60 on the BSE. The scrip opened at Rs394.95 and has touched intraday high and low of Rs407.70 and Rs387.60 respectively.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.