Bharat Wire Ropes Limited — Credit Ratings, 01-08-2025: Credit Rating

CARE Ratings has reaffirmed Bharat Wire Ropes Limited's (BWRL) long-term rating at CARE BBB+; Stable and short-term rating at CARE A3+. This action reflects BWRL's healthy operational and financial performance in FY25, maintaining stable operating income around ₹620 Cr and a robust adjusted PBILDT margin of 15%. The company demonstrates an adequate capital structure with overall gearing at 0.18x and strong debt coverage, including a PBILDT interest coverage of 10x. The stable outlook signals expectations of sustained performance, supported by improving capacity utilization. This rating stability enhances investor confidence and offers strategic room for operations, despite factors like raw material price volatility.