Credit rating agency, CARE has assigned ‘BBB+’ rating to the long-term bank facilities of Zicom Electronic Security Systems (ZESSL) for Rs 65.00 crore. The agency has also assigned ‘A3+’ rating to the short-term bank facilities of the company for Rs 10.00 crore.
The company’s ability to stabilize and profitably scale up its operations subsequent to the restructuring is the key rating sensitivity. The ratings are, however, constrained by the dependence on overseas Original Equipment Manufacturers (OEMs) for the supply of equipments, the recent sale of its strategic and more profitable businesses and the increasing competition from both large multinational players as well as organized and unorganized domestic companies.
Zicom Electronic Security Systems is engaged in the business of developing security systems. The company offers a wide array of products and solutions such as CCTV surveillance system, access control system, fire alarm system, multi-apartment video door phones, alarm system, fingerprint locks, video door phones and telecom tower security as well as advanced security training and management.
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