Sandhar Technologies Limited — Credit Ratings, 18-10-2024: Credit Rating

Sandhar Technologies Limited's long-term issuer rating has been reaffirmed at 'IND AA-/Stable' by India Ratings & Research, indicating a stable outlook for its financial instruments. The company reported a 21% revenue growth in FY24, driven by increased demand and product development, while maintaining stable EBITDA margins. However, it faces risks from high customer concentration and significant debt levels from subsidiaries. Future revenue growth of 12%-15% is expected, supported by ongoing capex and improved operations.