D P Wires Limited — Credit Ratings, 17-09-2025: Credit Rating

CRISIL Ratings reaffirmed DP Wires' long-term bank facility (Rs 45 Cr) at 'Crisil A-', revising the outlook to 'Negative' from 'Stable'. The short-term rating 'Crisil A2+' was reaffirmed. This reflects a weakening business risk profile due to reduced scale of operations (revenue fell from ~997 Cr to ~620 Cr), lower trading contribution, and moderating operating margins, pressured by competition.