{"id":424,"date":"2024-07-24T10:55:34","date_gmt":"2024-07-24T09:55:34","guid":{"rendered":"https:\/\/apar.com\/ar2024\/?page_id=424"},"modified":"2024-08-05T14:45:40","modified_gmt":"2024-08-05T13:45:40","slug":"performance-overview","status":"publish","type":"page","link":"https:\/\/apar.com\/ar2024\/performance-overview\/","title":{"rendered":"Performance Overview"},"content":{"rendered":"[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][heading]\n

Performance Overview<\/h2>\n

A financial perspective on our business. How we maintained growth momentum in FY 24 and created new growth opportunities.<\/span>[\/heading][\/vc_column][\/vc_row][vc_row type=”full_width_content” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” top_padding=”3%” left_padding_desktop=”6%” constrain_group_2=”yes” right_padding_desktop=”6%” top_padding_tablet=”10%” constrain_group_3=”yes” bottom_padding_tablet=”10%” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” id=”team” advanced_gradient_angle=”0″ overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” gradient_type=”default” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” translate_y=”-40″ column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” advanced_gradient_angle=”0″ gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/3″ tablet_width_inherit=”default” animation_type=”default” enable_animation=”true” animation=”fade-in-from-bottom” animation_easing=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” gradient_type=”default” column_padding_type=”default”][vc_row_inner column_margin=”30px” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left” row_position=”default” row_position_tablet=”inherit” row_position_phone=”inherit” overflow=”visible” pointer_events=”all”][vc_column_inner column_padding=”padding-3-percent” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”20px” column_link_target=”_self” overflow=”visible” enable_gradient=”true” color_overlay=”#f7941d” color_overlay_2=”#3b2c53″ gradient_direction=”left_t_to_right_b” overlay_strength=”0.95″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” column_padding_type=”default” gradient_type=”default”][nectar_single_testimonial testimonial_style=”basic” text_color=”#ffffff” quote=”The company possessed Rs 3,876.44 cr of net worth and Rs 405.54 cr of longterm debt \u2013 a gearing of 0.10.”][\/vc_column_inner][\/vc_row_inner][vc_row_inner column_margin=”30px” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left” row_position=”default” row_position_tablet=”inherit” row_position_phone=”inherit” overflow=”visible” pointer_events=”all”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”10px” column_link_target=”_self” overflow=”visible” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” column_padding_type=”default” gradient_type=”default”][team_member image_url=”776″ team_memeber_style=”meta_below” link_element=”none” color=”Accent-Color” hide_link_arrow=”true” name=”Ramesh Iyer” job_position=”Chief Financial Officer” image_size=”regular”]Consectetur adipiscing elit. Etiam id mi faucibus, malesuada quam eget, facilisis turpis. Quisque ac purus erat.<\/p>\n

Donec id pharetra tellus, vitae vehicula dolor. Aenean leo lorem, tempor vel mauris in, interdum fringilla erat. Nam auctor sodales dapibus. Ut et nibh sed neque lobortis mollis. Cras mauris tellus, ornare sed vestibulum eu, sagittis vitae justo. Vivamus pellentesque augue in orci commodo dignissim. Fusce id mi lacus.<\/p>\n

Nullam ultricies mollis lorem, ac gravida diam pretium eget. Ut porttitor scelerisque lacus, a fringilla felis blandit sed.[\/team_member][\/vc_column_inner][\/vc_row_inner][\/vc_column][vc_column column_padding=”padding-3-percent” column_padding_tablet=”no-extra-padding” column_padding_phone=”no-extra-padding” column_padding_position=”left” column_element_direction_desktop=”default” column_element_spacing=”0px” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” advanced_gradient_angle=”0″ gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”2\/3″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” gradient_type=”default” column_padding_type=”default”][vc_row_inner column_margin=”20px” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” bottom_padding=”3%” text_align=”left” row_position=”default” row_position_tablet=”inherit” row_position_phone=”inherit” overflow=”visible” pointer_events=”all”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” overflow=”visible” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/2″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” column_padding_type=”default” gradient_type=”default”][vc_column_text css=”.vc_custom_1721813442879{margin-bottom: 30px !important;border-top-width: 2px !important;border-right-width: 2px !important;border-bottom-width: 2px !important;border-left-width: 2px !important;padding-top: 20px !important;padding-right: 15px !important;padding-bottom: 15px !important;padding-left: 15px !important;border-left-style: solid !important;border-right-style: solid !important;border-top-style: solid !important;border-bottom-style: solid !important;border-radius: 10px !important;}” text_direction=”default”]\n

The Big Picture<\/h4>\n

During FY 24, the company balanced the need to sustain business momentum with new opportunities for growth. We believe this scenario presented cash flow and capital allocation priorities. The company is pleased to report a revenue growth of 13%, EBITDA (post open period forex) growth of 24%, and PAT growth of 29%.<\/p>\n

While the company has a history of profitable growth, the profit increases in the last two years have been particularly significant, indicating leadership strength.[\/vc_column_text][vc_column_text css=”.vc_custom_1721814453508{margin-bottom: 30px !important;border-top-width: 2px !important;border-right-width: 2px !important;border-bottom-width: 2px !important;border-left-width: 2px !important;padding-top: 20px !important;padding-right: 15px !important;padding-bottom: 15px !important;padding-left: 15px !important;border-left-style: solid !important;border-right-style: solid !important;border-top-style: solid !important;border-bottom-style: solid !important;border-radius: 10px !important;}” text_direction=”default”]\n

Premiumisation:<\/h4>\n

This comprised a shift from conventional conductors to high efficiency conductors. The combination of premium products in the Indian market and conventional products in the overseas market helped achieving heathy margins[\/vc_column_text][vc_column_text css=”.vc_custom_1722539982324{margin-bottom: 30px !important;border-top-width: 2px !important;border-right-width: 2px !important;border-bottom-width: 2px !important;border-left-width: 2px !important;padding-top: 20px !important;padding-right: 15px !important;padding-bottom: 15px !important;padding-left: 15px !important;border-left-style: solid !important;border-right-style: solid !important;border-top-style: solid !important;border-bottom-style: solid !important;border-radius: 10px !important;}” text_direction=”default”]\n

Globalisation<\/h4>\n

The company has exported to over 140 countries with exports reaching 45.2% of the topline in FY 24. The company leveraged synergy across divisions for common customers. It received approvals from global utilities, EPC contractors and OEMs.[\/vc_column_text][\/vc_column_inner][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” overflow=”visible” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/2″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” column_padding_type=”default” gradient_type=”default”][vc_column_text css=”.vc_custom_1721813517482{margin-top: 30% !important;margin-bottom: 30px !important;border-top-width: 2px !important;border-right-width: 2px !important;border-bottom-width: 2px !important;border-left-width: 2px !important;padding-top: 20px !important;padding-right: 15px !important;padding-bottom: 15px !important;padding-left: 15px !important;border-left-style: solid !important;border-right-style: solid !important;border-top-style: solid !important;border-bottom-style: solid !important;border-radius: 10px !important;}” text_direction=”default”]\n

Sectorial overview:<\/h4>\n

The company\u2019s sustained outperformance during the financial year resulted from a global shift from fossil fuels to renewable energy. Western interest in diversifying its supply chain away from China, the rise in fuel costs due to the RussiaUkraine war, and the movement towards long-term electrification
\nhave further driven this change. Urbanization continues to increase electrical connections, and developed countries are overhauling their power transmission systems. There is a strong belief that increased prosperity drives electricity
\nconsumption, indicating a potential rise in electricity usage in the coming years.[\/vc_column_text][vc_column_text css=”.vc_custom_1721813582808{margin-bottom: 30px !important;border-top-width: 2px !important;border-right-width: 2px !important;border-bottom-width: 2px !important;border-left-width: 2px !important;padding-top: 20px !important;padding-right: 15px !important;padding-bottom: 15px !important;padding-left: 15px !important;border-left-style: solid !important;border-right-style: solid !important;border-top-style: solid !important;border-bottom-style: solid !important;border-radius: 10px !important;}” text_direction=”default”]\n

Business-strengthening strategy:<\/h4>\n

The company is attractively placed to capitalise on an emerging world on account of it being number one, two or three across each of its leading business segments.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/3″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text css=”.vc_custom_1722540020594{margin-bottom: 30px !important;border-top-width: 2px !important;border-right-width: 2px !important;border-bottom-width: 2px !important;border-left-width: 2px !important;padding-top: 20px !important;padding-right: 15px !important;padding-bottom: 15px !important;padding-left: 15px !important;border-left-style: solid !important;border-right-style: solid !important;border-top-style: solid !important;border-bottom-style: solid !important;border-radius: 10px !important;}” text_direction=”default”]\n

Revenues:<\/h4>\n

The company generated record revenues from each of its business segments. The conductor’s business grew 15%, speciality oils grew 4%, cables grew 18%, during FY 24.
\n[\/vc_column_text][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”2\/3″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text css=”” text_direction=”default”]\n\n\n\n\n\n\n\n\n
Year<\/th>\nFY22<\/th>\nFY23<\/th>\nFY24<\/th>\n<\/tr>\n<\/thead>\n
Revenue from the conductors business %<\/td>\n42.81%<\/td>\n46.68%<\/td>\n47.66%<\/td>\n<\/tr>\n
Revenue from the speciality oils and lubricants business %<\/td>\n36.12%<\/td>\n30.89%<\/td>\n28.71%<\/td>\n<\/tr>\n
Revenue from the cables business %<\/td>\n20.32%<\/td>\n21.72%<\/td>\n22.90%<\/td>\n<\/tr>\n
Revenue from the Others business %<\/td>\n0.75%<\/td>\n0.71%<\/td>\n0.73%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/2″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text css=”.vc_custom_1722540584753{margin-bottom: 30px !important;border-top-width: 2px !important;border-right-width: 2px !important;border-bottom-width: 2px !important;border-left-width: 2px !important;padding-top: 20px !important;padding-right: 15px !important;padding-bottom: 15px !important;padding-left: 15px !important;border-left-style: solid !important;border-right-style: solid !important;border-top-style: solid !important;border-bottom-style: solid !important;border-radius: 10px !important;}” text_direction=”default”]\n

Exports:<\/h4>\n

The company is positioned as an international supplier of products located out of India & UAE. The company services the growing demand of customers \u2013 individual and institutional – across 140 countries. Nearly 45% of the company\u2019s revenue was derived from international dispatches, reflecting its strong global presence and competitiveness.[\/vc_column_text][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/2″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text css=”” text_direction=”default”]\n

Exports Breakdown<\/h4>\n\n\n\n\n\n\n
Year<\/th>\nFY22<\/th>\nFY23<\/th>\nFY24<\/th>\n<\/tr>\n<\/thead>\n
Total exports as a % of overall revenues<\/td>\n38.74%<\/td>\n48.73%<\/td>\n45.2%<\/td>\n<\/tr>\n
Exports growth %<\/td>\n35.46%<\/td>\n98.41%<\/td>\n4.32%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”30px” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” gradient_type=”default” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/3″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text css=”” text_direction=”default”]\n

Profitable growth<\/h4>\n\n\n\n\n\n\n
Year<\/th>\nFY22<\/th>\nFY23<\/th>\nFY24<\/th>\n<\/tr>\n<\/thead>\n
Revenue growth %<\/td>\n46%<\/td>\n54%<\/td>\n13%<\/td>\n<\/tr>\n
EBITDA post open period forex growth %<\/td>\n29%<\/td>\n125%<\/td>\n24%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n[\/vc_column_text][vc_column_text css=”” text_direction=”default”]\n

Capital Expansion<\/h4>\n\n\n\n\n\n
Year<\/th>\nFY22<\/th>\nFY23<\/th>\nFY24<\/th>\n<\/tr>\n<\/thead>\n
Capital expenditure (Rs crores)<\/td>\n130.03<\/td>\n247.83<\/td>\n330.67<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n[\/vc_column_text][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”2\/3″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text css=”” text_direction=”default”]\n

Profit drivers<\/h4>\n\n\n\n\n\n\n\n\n
Year<\/th>\nFY22<\/th>\nFY23<\/th>\nFY24<\/th>\n<\/tr>\n<\/thead>\n
EBITDA post open period forex derived from the conductors business %<\/td>\n31.28%<\/td>\n54.73%<\/td>\n53.37%<\/td>\n<\/tr>\n
EBITDA post open period forex derived from the speciality oils and lubricants business %<\/td>\n49.87%<\/td>\n18.06%<\/td>\n18.97%<\/td>\n<\/tr>\n
EBITDA post open period forex derived from the cables business %<\/td>\n18.06%<\/td>\n26.67%<\/td>\n26.86%<\/td>\n<\/tr>\n
EBITDA post open period forex derived from the other business %<\/td>\n0.79%<\/td>\n0.54%<\/td>\n0.80%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n[\/vc_column_text][vc_column_text css=”” text_direction=”default”]\n

Credit Ratings<\/h4>\n\n\n\n\n\n\n\n\n
<\/th>\nYear<\/th>\nFY22<\/th>\nFY23<\/th>\nFY24<\/th>\n<\/tr>\n<\/thead>\n
Credit rating given by CARE<\/td>\nLong Term Bank Facilities (Term Loans & Fund Based Limits)<\/td>\nCARE A; stable<\/td>\nCARE A; positive<\/td>\nCARE A+; stable<\/td>\n<\/tr>\n
Long Term \/ Short Term Bank Facilities (Non-fund Based Limits)<\/td>\nCARE A; stable \/ CARE A1<\/td>\nCARE A; positive \/ CARE A1<\/td>\nCARE A+; stable \/ CARE A1<\/td>\n<\/tr>\n
Credit rating given by ICRA<\/td>\nLong Term Bank Facilities (Term Loans & Fund Based Limits)<\/td>\nNA<\/td>\n[ICRA] A+; stable<\/td>\n[ICRA] A+; stable<\/td>\n<\/tr>\n
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