31 Jan 2022 , 01:12 PM
Rasi Electrodes Ltd has informed that ICRA reaffirmed the bank loan facilities of the company where long-term ratings has been reaffirmed at [ICRA] BB+ (Stable) and short-term ratings has been reaffirmed to [ICRA] A4+.
According to the rationale report, the reaffirmation of the ratings continues to factor in Rasi Electrodes Limited’s (REL) extensive experience of its promoters and the company’s track record in the welding consumables business, which caters to various industries, including infrastructure and auto ancillary.
The ratings favourably note the revenue growth with an improved demand and execution in the current fiscal. ICRA also notes REL’s favourable financial profile, characterised by a comfortable capital structure and healthy debt protection metrics.
The Stable outlook reflects ICRA’s expectationsthat the company would continue to maintain its credit profile with an expected improvement in revenue, profit margins and an adequate liquidity position.
On Monday, at around 1:13 PM, Rasi Electrodes was trading at Rs10.40 apiece down by Rs0.18 or 1.7% against previous closing of Rs10.58 apiece on the BSE.
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