Credit rating downgraded from IVR A minus to BBB plus by Infomerics
VIKRAN · price
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Infomerics downgraded Vikran Engineering's credit rating from IVR A minus/Stable to IVR BBB plus/Stable for fund-based facilities of Rs 184.73 crore and from IVR A minus/Stable/A2 plus to IVR BBB plus/Stable/A2 for non-fund based facilities of Rs 395 crore. Reasons include equity funding needs for solar projects, order book concentration in solar, and high working capital intensity. Supports include improved scale, healthy order book, comfortable capital structure, and experienced promoters.
Credit downgrade may raise borrowing costs and weigh on stock sentiment, though order book and capital structure remain supportive.