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Ultracab’s CRISIL Credit Ratings Suggest High Credit Risk

Ultracab (India) Limited has been rated ‘CRISIL B /Stable (Issuer not cooperating)’ on long-term basis and ‘CRISIL A4 (Issuer not cooperating)’ on short-term basis by Credit Rating Information Services of India Limited (CRISIL). The long-term rating has been revised from ‘CRISIL BB-/Stable Issuer not cooperating’ while the short-term rating has been revised from ‘CRISIL A4+ Issuer not cooperating’.

Long-term credit ratings of Ultracab indicates that the company carries high credit risk regarding timely servicing of financial obligations. Short-term credit ratings of Ultracab specify minimal degree of safety regarding timely payment of financial obligations and carry very high credit risk. Short-term ratings consider a period of one year or less while long-term ratings define a period of more than one year.

Compounded Annual Growth Rate (CAGR) for profit and sales for last 5 years was 51% and 17% respectively (Upto FY23). Total debt-to-equity ratio of Ultracab was 1.05 in March 2023.