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Description

Description

HINDUSTAN SHIPYARD LIMITED CREDIT RATING UPGRADED to 'A'

 Hindustan Shipyard Limited (HSL) has achieved a major milestone with the upgrade of its long-term bank facilities and corporate credit rating (CCR) from 'BBB+' to 'A' by CARE Ratings. This significant upgrade reflects the robust improvement in HSL's overall operating performance and financial health, while maintaining a positive outlook.

 
Key factors for the upgrade include strong revenue growth, which is expected to be sustained over the medium term, a structural reduction in costs leading to better operating margins, a reduction in contingent liability, an uptick in the order book providing clear visibility for future revenues, and an improved financial profile driven by sustained better operating performance. This is reflected in HSL's adequate capital structure and strong liquid surpluses.
 
Cmde Hemant Khatri, C& MD of HSL, stated, “We are pleased with the credit rating upgrade, which reflects the strength of our growing scale and diversity of our business, the quality of our cash flows, and our fortress balance sheet. The upgrade is further recognition of our longstanding commitment to conservative financial principles.”
 
The upgraded rating highlights HSL's commitment to excellence and its strategic focus on sustainable growth and financial stability.