CARE reaffirms ratings to Gayatri Projects’ Bank Facilities

18 Dec 2013

Credit rating agency, CARE has reaffirmed ‘BB+’ rating to Gayatri Projects’ Long-term Bank Facilities worth Rs 1,279.50 crore, which  was enhanced from 1,202.94 crore, ‘A4+’ rating to Short-term Bank Facilities worth Rs 300 crore, which was enhanced from 275 crore and BB+/A4+’ rating to Long-term/Short term Facilities worth Rs 2,801 crore which was enhanced from 2,500 crore.

The ratings assigned to the bank facilities of GPL continue to be constrained by the high equity commitments, albeit reduction in the same, towards power and the BOT projects which have long gestation periods, high repayment obligations which in turn impact the liquidity profile of the company, increasing debt levels, high exposure in the form of contingent liabilities including Stand-by Corporate Guarantee to subsidiary, client concentration and working capital intensive nature of the business.

Gayatri Projects, an ISO 9001-2000 company, is one of the fastest growing construction companies in India executing major civil works including construction of concrete/masonry dams, earthen dams, national highways, bridges, canals, aqueducts, airports, ports, etc.

Related Gayatri Projects Ltd. Links:

Gayatri Projects Share Price

27.40 0.30 (1.11%) Apr 20, 18:01
1 Year Price Chart
Peers
Company Name CMP
Larsen & Toubro 1331.50
Rail Vikas Nigam 26.75
KEC International 417.80
NCC 75.05
PNC Infratech 236.45
View more..
Sensex vs Gayatri Projects
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback