As per Credit Rating Report -
Favorable capital structure and adequate liquidity profile –
The company’s net worth in FY2022 at a consolidated level remained strong at Rs.1040 crore, boosted by recent QIP placement of Rs.1402.14 crore in March 2022.
The external debt is only for the Indonesian subsidiary, which remains limited at Rs.141.9 crore.
The capital structure at an aggregate level remained strong, depicted by low gearing of 0.8 times as of March 31, 2022. The liquidity position also remained comfortable, aided by healthy unencumbered cash balances and considerable liquid investments of Rs.679.5 crore at a consolidated level as on March 31, 2022.
Liquidity position: Adequate
The company`s liquidity position remains adequate, given at a standalone level RBAL does not have external borrowings(except lease liabilities) and, thus, has no scheduled repayment obligations while on a consolidated basis there is term debt of Rs.141.9 crore on its subsidiary’s books.
Further, on a consolidated level, the company has healthy liquid investments in the
form of liquid mutual funds and unencumbered cash and bank balances which aggregated to ~Rs. 679 crore as on March 31, 2022. The company has aggressive expansion plans for its India operations, however, the same is expected to be funded by internal accruals and liquid investments available on books.
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