Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Vindhya Telelinks’ long-term bank facilities worth Rs 65 crore. The rating agency has also reaffirmed ‘A3’ rating to the company’s short-term bank facilities worth Rs 127.5 crore.
The company has received the said rating on the back of its promoters’ experience in the cable industry, improvement in profitability and capacity utilization in FY13 (refers to the period April 1 to March 31), moderate order book position providing revenue visibility and continued support from the promoter group companies.
Vindhya Telelinks is engaged in manufacturing and selling of telecom cables (contributed approximately 60% to the net sales in FY13) comprising Jelly Filled Telephone cables (JFTC), Optical Fibre Cables (OFC) and other types of wires & cables. It also offers Engineering, Procurement & Construction (EPC; contributed approximately 40% to the net sales in FY13) services to the telecom, power sector, gas distribution pipelines and sewage projects.
