Manaksia Steels Limited has informed the Exchange about Credit Rating
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Awaiting price reaction for this filing.
CARE Ratings has reaffirmed the credit ratings on Manaksia Steels' bank facilities. Long-term facilities of Rs. 60 crore (enhanced from Rs. 45 crore) retain the rating of CARE A- with a Stable outlook. Short-term facilities of Rs. 440 crore (enhanced from Rs. 330 crore) retain the rating of CARE A2+. Total rated facilities now stand at Rs. 500 crore, up from Rs. 375 crore previously. The reaffirmation follows a review of the company's FY25 audited operational and financial performance.
The reaffirmation of investment-grade ratings (A-/Stable and A2+) signals continued lender confidence in the company's creditworthiness. The enhanced facility limits (Rs. 125 crore increase) expand the company's access to working capital and fund-based borrowings, which is mildly positive for shareholders.