Ind Ra affirms Sangam (India) long-term rating at 'IND A' with Stable outlook

24 Mar 2022 , 11:51 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 rating rationale report, Ind  Ra expexts that 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.

Meanwhile, any deterioration in the operating profitability and/or debt-led capex, leading to the net leverage of above 3.25x could result in a negative rating action.

At around 11:54 AM, Sangam (India) was trading at Rs292.25 apiece down by Rs7.6 or 2.53% on the BSE.