CARE reaffirms ratings of Shakti Pumps’ bank facilities

24 Mar 2014 Evaluate

Credit rating agency, CARE has reaffirmed ‘BBB’ rating to Shakti Pumps’ long term bank facilities worth Rs 100 crore which was enhanced from Rs 92.38 and ‘A3+’ rating to company’s Short term Bank Facilities worth Rs 37 crore which was enhanced from Rs 25 crore. Besides, the rating agency has also reaffirmed ‘BBB/A3+’ ratings to the long term/short term bank Facilities of the company for amount worth Rs 2 crore which was reduced from Rs 15 crore.

The company has received the said ratings on the back of its established operations in the submersible pumps and motors segments aided by its experienced promoters, strong distribution network leading to robust growth in the overseas market. The ratings also continue to take comfort from its improving scale of operations with sustained profitability and moderation in overall gearing.

Shakti Pumps was incorporated to manufacture submersible pumps and electric control panels. The company is engaged in the business of manufacturing of submersible pumps along with submersible motors and associated controls panels under the name ‘Shakti’.

Shakti Pumps (I) Share Price

963.15 45.85 (5.00%)
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Company Name CMP
KSB 744.75
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Shakti Pumps (I) 963.15
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