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CRISIL Ratings has upgraded Simplex Castings' long-term bank facility rating from 'Crisil BB-/Stable' to 'Crisil BB/Stable', while reaffirming the short-term rating at 'Crisil A4+'. The upgrade covers Rs. 56 crore of long-term facilities, with total bank loan facilities rated at Rs. 72 crore. CRISIL cited strong revenue growth (estimated above Rs. 170 crore in FY25 vs Rs. 122.8 crore in FY24), improved profitability (15% to 18%), and reduced gearing (below 0.7 times). The company turned profitable with FY24 PAT of Rs. 2.39 crore compared to a loss of Rs. 16.99 crore in FY23. Outlook remains stable, supported by promoters' five decades of experience in heavy engineering castings.
Positive for shareholders — the rating upgrade reflects improving business fundamentals, better profitability, and lower debt burden, which could ease future borrowing costs and boost investor confidence in the stock.