Credit rating agency, CARE has reaffirmed 'AA' rating to Piramal Enterprises’ Non convertible Debenture (NCD) issue worth Rs 100 crore. The rating continues to derive strength from the resourceful promoter group with strong and experienced management team of PEL and a long track record in healthcare industry.
The rating factors in diversified product portfolio and revenue profile, accredited manufacturing facilities with well-equipped R&D facilities across geographies, adequate profitability margins on back of financial services business and comfortable debt coverage metrics.
Piramal Enterprises (PEL) is engaged in the business of pharmaceuticals, including research and development, financial services and information management through its subsidiaries.
