CRISIL Upgrades Credit Ratings Dynamic Cables to ‘A/Stable’

Credit Rating Information Services of India Limited (CRISIL) has assigned ‘CRISIL A/Stable’ credit rating to Dynamic Cables on long term basis and ‘CRISIL A1’ ratings on short term basis. The long-term rating has been revised from ‘CRISIL A-/Stable’ and short-term rating has been revised from ‘CRISIL A2+’. The short-term rating is based on a one-year or shorter repayment period, while the long-term rating covers financial obligations extending beyond one year.

This upgrade in Dynamic Cables’ ratings reflects improvement in the business risk profile of the company. In its rating rationale, CRISIL mentioned that this upgrade in credit ratings is supported by the company’s steady growth in revenue and stable operating margin. These credit ratings received by Dynamic Cables indicate that the company has strong financial credibility and that it carries low credit risk.

The company reported a revenue of Rs. 768 crore for FY24. CRISIL has projected that Dynamic Cables is expected to achieve a revenue between Rs. 1,000 crore and Rs. 1,020 crore in FY25.