Enviro Infra Engineers Limited — Credit Ratings, 18-06-2025: Credit Rating

Crisil Ratings has upgraded Enviro Infra Engineers Limited’s long-term rating to 'Crisil A/Stable' and short-term rating to 'Crisil A1' from 'A-/Stable' and 'A2+', respectively. This reflects strong revenue growth of nearly 45% to Rs. 1045 Cr in fiscal 2025, backed by a robust order book exceeding Rs. 1300 Cr and improved operating margins above 24%. The company’s capital structure has strengthened significantly, with net worth rising to Rs. 996 Cr due to a Rs. 517 Cr IPO, resulting in lower leverage (TOL/ANW improving to 0.3-0.4x from 1.37x). Healthy debt coverage (interest coverage over 8.5x) and improved liquidity position enhance financial flexibility. This upgrade is likely to lower borrowing costs and boost investor confidence in EIEL’s waste-water EPC business.