Vascon Engineers Limited — Credit Ratings, 22-10-2024: Credit Rating- Revision

Vascon Engineers Limited's credit ratings were upgraded by CRISIL Ratings, with long-term ratings moving from ‘CRISIL BBB+’ to ‘CRISIL A-’ and short-term ratings from ‘CRISIL A2’ to ‘CRISIL A2+’. This upgrade comes after the completion of the divestment of its subsidiary GMP Technical Solutions. The company's stable financials and healthy order book provide adequate revenue visibility, although challenges remain in the EPC segment and real estate inventory management. The outlook is stable.