Bharat Wire Ropes Limited has informed the Exchange about Credit Rating
BHARATWIRE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CARE Ratings has reaffirmed Bharat Wire Ropes' credit ratings on August 1, 2025, keeping both ratings unchanged from the previous review in July 2024. The long-term bank facilities of Rs. 125.11 crore (reduced from Rs. 156.32 crore) carry a CARE BBB+; Stable rating, while the short-term bank facilities of Rs. 25 crore carry a CARE A3+ rating. The reaffirmation reflects the company's stable operational performance with FY25 operating income flat at around Rs. 620 crore, though profitability moderated with PBILDT margin falling to 15% from 20.31% due to steel price corrections and higher logistics costs. The company's capital structure remains comfortable with gearing at 0.18x and interest coverage at 9.93x, supported by debt prepayments from government subsidy receipts.
The reaffirmation of investment-grade BBB+ rating with Stable outlook signals steady creditworthiness for shareholders, with no change in borrowing cost expectations. The meaningful reduction in long-term facility size (from Rs. 156.32 crore to Rs. 125.11 crore) indicates active debt prepayment, which is credit-positive, though investors should monitor the margin compression and working capital cycle stretch noted by the rating agency.