Credit rating agency, ICRA has assigned LBB+ rating to Rs 280 crore term loan and Rs 20 crore cash credit facility of Stone India (SIL). The outlook on this rating is stable. ICRA has also assigned an A4+ rating to Rs 8 crore short term non fund based facility of the company.
The ratings reflect significant customer concentration risk being faced by the company with the Indian Railways (IR) accounting for more than 80% of the company`s sales, the exposure of SIL to raw material price risk, with the orders from IR being fixed price in nature, thus not allowing the company to pass on cost increases, the practice of the IR to award a majority of orders to the lowest bidder, thus driving down the profitability of such contracts and the high working capital requirements of the company which results in almost full utilization of the company`s working capital limits, reducing financial flexibility.
Stone India, a multi-product engineering company located in Kolkata, has been serving the Indian rail road industry for over seven decades now. A pioneer in brake systems and train lighting alternators is the undisputed leader in locomotive brake systems and has a wide range of mechanical and electrical products for the rail road industry.
| Company Name | CMP |
|---|---|
| BHEL | 325.60 |
| Thermax | 4182.30 |
| Kirloskar Oil Eng | 1641.75 |
| Skipper | 436.85 |
| GMM Pfaudler | 911.35 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: