CRISIL upgrades MAN Industries credit ratings

CRISIL upgrades MAN Industries credit ratings

 

The upgrade in the rating is a positive movement for the Company as it had recently received a new order worth approximately INR 200 crores from the Oil & Gas and Water sector.

Highlights:

• The Long Term Rating is upgraded to ‘CRISIL A/ Stable’ from ‘CRISIL A-/ Positive’
• The Short Term Rating is upgraded to ‘CRISIL A1’ from ‘CRISIL A2+’

Man Industries (India) Limited, one of India’s leading Large Diameter Pipe manufacturing companies has announced that CRISIL, a rating agency has upgraded the Company’s credit ratings, based on a review of the latest development.

The Long Term Rating is upgraded to ‘CRISIL A/ Stable’ from ‘CRISIL A-/ Positive’, and in the Short Term Rating, it is upgraded to ‘CRISIL A1’ from ‘CRISIL A2+’

The upgrade in the rating is a positive movement for the Company as it had recently received a new order worth approximately INR 200 crores from the Oil & Gas and Water sector.

With an order book that now stands approximately at INR 1500 crore to be executed in the current financial year, it reflects a robust business environment and showcases the trust customers have in Man Industries technological and execution capabilities. Man Industries (India), Limited, holds an impeccable track record of uninterrupted profitability, dividend and meeting all its financial obligations in the most demanding business environment.