Creditrating agency, CARE has reaffirmed rating assigned to Simplex Infrastructures’commercial paper issue worth Rs 550 crore to ‘A1’.The rating assigned toSimplex Infrastructures (Simplex) continues to draw strength from the long andsatisfactory track record of the company, proven project execution capabilitieswith strong technical tie-ups, strong order book position translating intomedium-term revenue visibility, diversified project mix as well as clientportfolio and stable profitability margins in FY16 (refer to the period April01 to March 31) and H1FY17.
Simplex,incorporated in 1924, is one of the leading construction companies of thecountry, belonging to Mundhra family of Kolkata. The company is primarilyengaged in foundation work, turnkey projects and general civil construction.