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Awaiting price reaction for this filing.
Infomerics Valuation and Rating has re-affirmed Delton Cables' credit ratings with no change: long-term bank facilities of Rs. 84.30 crore at IVR BBB/Stable and short-term bank facilities of Rs. 185 crore at IVR A3+, totalling Rs. 269.30 crore. The re-affirmation is driven by strong FY25 performance where revenue jumped 77% to Rs. 709.26 crore and PAT grew 40% to Rs. 20.51 crore, supported by an order book of Rs. 328.45 crore. Concerns include rising debt (total debt up to Rs. 172.26 crore), higher gearing at 2.12x, shrinking margins due to copper price volatility, and intense industry competition. The outlook remains stable, indicating low likelihood of a rating change in the medium term.
Neutral to mildly positive for shareholders — the rating stability reflects healthy growth and adequate liquidity, but rising debt and margin pressures cap upside. The stock is unlikely to see a sharp reaction as there is no change in rating.