VIKRAN ENGINEERING : INDIA RATINGS DOWNGRADES CREDIT RATING ⚠️

• 📉 India Ratings has downgraded the company's ₹100 Cr Non-Convertible Debentures (NCDs) rating from IND A-/Negative to IND BBB+/Stable. • 🏦 Rating on ₹470 Cr Bank Loan Facilities has been revised from IND A-/Negative / IND A2+ to IND BBB+/Stable / IND A2. • 🔄 Outlook has been revised from Negative to Stable. • ☀️ Rating action was driven by high concentration of the order book towards the NOPL Solar Project, with the top order accounting for 37% of total unexecuted orders. • 💰 The project also requires a significant equity infusion of ₹840 Cr and debt tie-up, which weighed on the rating assessment. 🔴 Impact: Negative (Credit rating downgrade may increase borrowing costs and reflects execution/funding concentration risks despite the stable outlook.)

VIKRAN ENGINEERING LTD

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