Siyaram Silk Mills Limited has informed the Exchange about Credit Rating
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CRISIL Ratings has reaffirmed Siyaram Silk Mills' credit ratings across all facilities. The long-term rating on Rs. 227.69 crore of bank loan facilities stands at 'Crisil AA-/Stable', the short-term rating at 'Crisil A1+', and the Rs. 100 crore commercial paper at 'Crisil A1+'. The reaffirmation reflects the company's strong financial health, with consolidated operating income rising to Rs. 2,221 crore in FY25 from Rs. 2,097 crore in FY24, EBITDA margin of 13.50%, and healthy cash accruals of Rs. 200 crore. CRISIL noted the upcoming Rs. 318 crore issuance of cumulative non-convertible redeemable preference shares (CNCRPS) as a bonus to shareholders, to be redeemed in tranches over 3-5 years with a 9% coupon, and expects debt obligations to remain comfortably covered. Liquidity remains strong with Rs. 212 crore in cash and bank utilization averaging 54%.
This is a neutral-to-positive signal for shareholders. The rating reaffirmation at AA-/Stable confirms the company's strong creditworthiness and ability to meet debt obligations. The upcoming CNCRPS bonus issue is positive for shareholders as it rewards them, though it will moderately increase the debt base.