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Craftsman Automation Ltd. ( (IN:CRAFTSMAN) ) has issued an announcement.
Craftsman Automation Ltd. said Crisil Ratings has reaffirmed its long-term rating at Crisil AA-/Stable and its short-term rating at Crisil A1+ for the parent company’s bank facilities, underscoring the agency’s continued confidence in the group’s credit profile and liquidity. DR Axion India Ltd., a wholly owned subsidiary, also had its long- and short-term ratings reaffirmed at the same levels, indicating stable risk assessment across the core operations.
The company added that Sunbeam Lightweighting Solutions Ltd., another wholly owned unit, received an upgrade on its long-term rating to Crisil BBB+/Watch Positive from Crisil BBB-/Positive and on its short-term rating to Crisil A2/Watch Positive from Crisil A3, reflecting improved credit quality expectations at this subsidiary. The mix of reaffirmations and upgrades suggests a broadly stable to strengthening financial position for the Craftsman group, potentially supporting better financing terms and reinforcing its standing with lenders and other stakeholders.
More about Craftsman Automation Ltd.
Craftsman Automation Ltd. is an India-based engineering company headquartered in Coimbatore, operating in the manufacturing and auto-components space through the parent entity and wholly owned subsidiaries DR Axion India Ltd. and Sunbeam Lightweighting Solutions Ltd. The group focuses on precision engineering and lightweighting solutions, supplying to industrial and automotive customers and relying on bank facilities backed by external credit ratings.
Average Trading Volume: 8,513
Technical Sentiment Signal: Buy
Current Market Cap: 163.4B INR
See more data about CRAFTSMAN stock on TipRanks’ Stock Analysis page.