IVRCL is currently trading at Rs 35.90, up by 1.20 points or 3.46% from its previous closing of Rs 34.70 on the BSE.

The scrip opened at Rs 36.00 and has touched a high and low of Rs 36.85 and Rs 35.50 respectively. So far 200431 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 136.25 on 02-Dec-2010 and a 52 week low of Rs 28.40 on 18-Nov-2011.

Last one week high and low of the scrip stood at Rs 36.85 and Rs 31.70 respectively. The current market cap of the company is Rs 926.52 crore.

The promoters holding in the company stood at 11.01% while Institutions and Non-Institutions held 43.04% and 45.95% respectively. 

ICRA has revised the long term ratings, which was assigned earlier to IVRCL’s Rs 100 crore term loans, Rs 866 crore fund- based facilities and Rs 3,709 crore non-fund based facilities from ‘A+’ to ‘A’. The credit rating agency has re-affirmed the short-term rating of A1 assigned earlier to the Rs 309 crore fund-based facilities and the Rs 841 crore non-fund based facilities of IVRCL. The long term ratings carry a Stable outlook.

The revision of IVRCL’s long term rating reflects the impact of the amalgamation of IVRCL Assets and Holdings (IAHL) on its credit risk profile. IAHL is the holding company for all the developmental projects implemented by the group, thus the amalgamation will increase IVRCL’s funding requirements as it will have to support the infrastructure projects (operational and under development) in terms of equity commitments, cost overruns and also to bridge the cash flow mismatches during the operations period.

The ratings also take into account the deterioration in the financial performance of the company as reflected by decline in the net profit on account of the rising interest cost and consequent weakening of the debt coverage indicators. The ratings, however, continue to draw comfort from the healthy order book position and the established position of IVRCL in the Indian Infrastructure sector.

IVRCL is engaged primarily in providing Engineering, Procurement, Construction and Commissioning services in major infrastructure segments including urban or rural water supply, irrigation and environment related projects, pipelines, power projects (substations and transmission & distribution Lines, buildings and industrial structures, roads and bridges.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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