Ind Ra affirms Sangam (India) long-term issuer rating at 'A/Stable'; Stock rises

11 Apr 2022 , 11:32 AM

India Ratings and Research (Ind-Ra) has affirmed Sangam (India) Limited’s (SIL) Long-Term Issuer Rating at ‘IND A’. The Outlook is Stable. 

As per rationale report, non fund-based limits worth Rs154 crore has been affirmed at IND A1.

Ind Ra expects an improved business profile with a higher level of scale, integration and value-added products, leading to a substantial improvement in the operating profitability and the net leverage reducing below 2.5x, all on a sustained basis, could result in a positive rating action.

At around 11:38 AM, Sangam (India) was trading at Rs309.95 per piece at 0.65% against previous closing at Rs307.95 per piece on Sensex