Credit rating agency, CARE has reaffirmed ‘BBB+’ rating to Shakti Pumps’ long term bank facilities worth Rs 98.62 crore and ‘A2’ rating to company’s short term Bank Facilities worth Rs 85 crore. Besides, the rating agency has also reaffirmed ‘BBB+/A2’ ratings to the long term/short term bank Facilities of the company worth Rs 12 crore.
The ratings continue to derive strength from established operations of Shakti Pumps (India) (SPIL) in the submersible pumps and motors segment aided by its experienced promoters, strong distribution network and geographically diversified presence. The ratings also factor improvement in SPIL’s operating profit margin during FY15 (refers to the period April 1 to March 31), improvement in its leverage as on Mar.31, 2015 on back of equity infusion and its moderate liquidity.
SPIL is engaged in manufacturing of energy efficient stainless steel submersible pumps, pump-motors, solar pumps and pressure booster pumps. Pumps manufactured by SPIL find application in irrigation, residential as well as industrial sectors. It is one of the leading exporters of pump-sets and as an accreditation has received status of ‘Star Export House’ by the Government of India.
| Company Name | CMP |
|---|---|
| Kirloskar Brothers | 1918.80 |
| KSB | 941.45 |
| Shakti Pumps (India) | 580.00 |
| Elgi Equipments | 576.25 |
| Kirloskar Pneumatic | 1782.80 |
| View more.. | |
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