Credit Rating

CARE Ratings Limited has reaffirmed the credit rating on the long-term and short-term bank facilities (totaling 280.00 Crore, enhanced from 190.00 Crore) of PNGS Reva Diamond Jewellery Limited at CARE BBB+; Positive / CARE A2. The outlook has been revised to Positive from Stable, supported by strong promoter experience, robust linkages with the P. N. Gadgil and Sons brand, a strengthened net worth following its recent IPO, healthy profitability, and an adequate liquidity position.