CRISIL has upgraded its rankings on Inox Wind Restricted with a steady outlook, in response to a regulatory submitting.
Inox Wind Restricted, a part of the INOX GFL Group, is India’s main wind power options supplier serving unbiased energy producers (IPPs), utilities, public sector items (PSUs) and company buyers.
“CRISIL has upgraded its rankings from CRISIL BBB+ to CRISIL A- (long-term ranking), and CRISIL A2 to CRISIL A2+ (short-term ranking) with a steady outlook with respect to the rankings of its banking services,” the corporate mentioned in a regulatory submitting.
CRISIL’s rationale for upgrading Inox Wind’s rankings displays the steps taken by the promoters in FY24 to cut back debt, which has resulted in a big enchancment within the monetary threat profile, and an enchancment within the enterprise threat profile demonstrated by the corporate reaching vital enchancment in working efficiency within the first half of Fiscal yr 2024 and advertising and marketing of generators with a capability of three.3 MW.
The improve in rankings additionally displays Inox Wind’s market place, deal with price effectivity, wholesome order ebook and robust execution capabilities, the submitting mentioned.
(Solely the title and picture of this report could have been reworked by Enterprise Customary employees; the remainder of the content material is auto-generated from a syndicated feed.)
First revealed: 09 November 2023 | 6:16 pm he
(tags for translation) inox wind