NELCO Limited — Credit Ratings, 18-11-2025: Credit Rating- Revision

CRISIL Ratings reaffirmed Nelco's long-term 'A' rating for its Rs 218.3 Cr bank facilities, but revised the outlook to 'Stable' from 'Positive'. This is due to slower-than-expected revenue growth in key segments. The short-term rating 'A1' was also reaffirmed. Factors like strong VSAT market position, healthy revenue visibility, financial strength, and Tata Group support underpin the reaffirmed ratings.