We wish to inform you that Brickwork Ratings vide its press release dated December 5, 2025 has assigned credit rating for the Bank facilities of Rs. 35 cr of the Company.
MARSONS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Marsons Ltd, a Kolkata-based transformer manufacturer, has received its first-ever credit rating from Brickwork Ratings. The company was assigned BWR BBB+/Stable for long-term facilities (Rs. 5 crore fund-based + Rs. 30 crore non-fund-based) and BWR A2 for a short-term sub-limit of Rs. 10 crore, totaling Rs. 35 crore in bank facilities from ICICI Bank. The investment-grade rating reflects the company's strong financial turnaround — revenue jumped from Rs. 6.46 crore in FY24 to Rs. 168.36 crore in FY25, with PAT rising sharply to Rs. 28.02 crore and debt-servicing metrics very healthy (ISCR of 130x). The company has a healthy order book of around Rs. 294 crore and stands as the only manufacturer in Eastern India capable of producing 132 kV class and above transformers. The Stable outlook indicates Brickwork expects the current credit profile to hold over the medium term.
Securing an investment-grade BBB+ rating on first assessment is a positive signal for shareholders — it validates the post-NCLT financial turnaround, improves the company's access to bank credit at competitive rates, and strengthens its credibility with state utilities and EPC clients. The stable outlook suggests no immediate rating pressure, though investors should watch for raw material price volatility and working capital cycles.