Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to High Energy Batteries’ long term bank facilities worth Rs 27.30 crore which was enhanced from Rs 25.35 crore and ‘A3’ rating to company’s Short term Bank Facilities worth Rs 45.00 crore which was enhanced from Rs 32.00 crore.
The company has received the said rating on the back of its long track record of operations catering to the defence establishments, proven technical and R&D capabilities, presence in the niche market, demonstrated financial support from the group companies and revenue visibility from the existing order book.
High Energy Batteries (India) is primarily engaged in the manufacture and sale of Aerospace, Naval and Power System Batteries (referred to High Energy Batteries (HEB) division) used in high-end defence and research applications like aircraft, torpedo, missiles and space launch vehicles. These high energy batteries are supplied to both domestic and foreign defence establishments with its applications being limited to specialized/ niche areas.
