Credit rating agency, CARE has upgraded ratings for Ahluwalia Contracts (India) taking into account the improvement in financial risk profile of the company for the year 2015. The credit rating have been upgraded to ‘A-‘ from ‘BBB+’ for Long term Bank facilities (Fund Based) of Rs 160 crore and ‘A-/ A2+’ from ‘BBB+/ A3+’ for Long/ Short term Bank Facilities (Non Fund Based) of Rs 745 crore.
The improved rating is reflected by healthy profitability margin and cash accruals. The improvement in solvency position and debt coverage indicators are led by improvement in order execution and funds infusion by promoters leading to relatively lesser reliance on external debt.
Ahluwalia Contracts (India) is engaged in providing construction related services including design on turnkey basis and assuring timely completion of projects within budget and with excellent quality.
