Solar Industries India Limited has informed the Exchange about Credit Rating
SOLARINDS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CRISIL has reaffirmed its 'CRISIL AA+/Stable' rating on Solar Industries India's long-term bank loan facilities of Rs 1,479.5 crore and on two non-convertible debentures worth Rs 35 crore and Rs 15 crore. The rating on the Rs 15 crore NCD has been withdrawn after partial redemption (reduced from Rs 30 crore). CRISIL cited the company's strong market position in the explosives industry (around 24% share), robust order book of Rs 7,122 crore as of December 2024, healthy financial risk profile (gearing of 0.33x), and strong operating margin of 26.4% in 9MFY25. A large Rs 6,084 crore defence order for PINAKA rocket systems received post December 2024 supports the outlook. Weaknesses include regulatory risks and forex volatility from overseas operations.
This is a neutral-to-positive event for shareholders — the rating is reaffirmed at the same high level (AA+/Stable), confirming continued strong credit quality. No change in rating means no negative signal for the stock; the strong order book and defence segment growth underpin the stable outlook.