Credit rating agency, CRISIL has reaffirmed ‘AA/Stable/A1+’ rating to the bank facilities of Kirloskar Oil Engines (KOEL). The rating continue to reflect the company’s strong financial risk profile, marked by low gearing and healthy liquid surpluses, and established position in the small- and medium-sized diesel engines segment, supported by its leading market position across key end-user segments.
the rating strength is partially offset by the company’s susceptibility to cyclicality in its end-user segments, to volatility in raw material prices, and to intense competition in the diesel engine market.
Kirloskar Oil Engines manufactures the widest range of diesel engines in India. Its other product range includes irrigation pump sets, diesel generating sets and engine bearings.
