Company Background:
A Gurugram-based company, specializes in manufacturing inverter-tubular batteries and is a prominent player in e-rickshaw batteries, with manufacturing facilities in Himachal Pradesh.
Problem:
Struggling to expand operations due to higher finance costs compared to competitors, which puts the company’s rating and growth, both at risk.
Solution:
Provided continuous support and guidance to the company in presenting its case to the rating agency since 2021, emphasizing its promoters’ background, business, and financial strength. As a result, the company swiftly improved its rating from BBB+ to AA-.
Impact:
A better credit rating added contribution to the success of the company, which saw revenue grow from INR 600 crores four years ago to INR 3200 crores. Additionally, profitability surged by 16 times, driven by improved margins in orders and lower interest rates.
