CRISIL reaffirms Rashi Peripherals ratings at AA-/Stable, A1+
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CRISIL reaffirmed Rashi Peripherals credit ratings as CRISIL AA-/Stable for long-term and CRISIL A1+ for short-term. The update follows the company's June 23 plan to acquire 67 percent stake in VDA Infosolutions for Rs 368.50 crore, paid in cash, with plans to acquire 100 percent by H1 fiscal 2029. VDA currently holds CRISIL BBB+/Watch Positive and A2/Watch Positive ratings. CRISIL cited RPL's strong market position in IT distribution, improving diversification, and healthy financial profile, partly offset by modest margins and large working capital needs.
Ratings reaffirmed, signalling stable finances and unchanged borrowing cost outlook. CRISIL will keep an eye on the Rs 368.50 crore VDA acquisition and its synergies.