India Ratings Revises RSWM's Outlook to Stable, Affirms IND A Rating
India Ratings & Research affirms long-term issuer rating at IND A and revises outlook to Stable on ₹2,156 crore credit facilities
RSWM Ltd. (BSE: 500350/NSE: RSWM), a manufacturer of value-added synthetic, mélange, cotton and blended yarns, denim fabric, knitted fabric and green polyester fibre under the LNJ Bhilwara Group, has announced that India Ratings & Research (Ind-Ra) has revised the company's outlook from Negative to Stable while affirming its long-term issuer rating at IND A.
According to the company, the revised outlook follows two financial years during which RSWM maintained a Negative outlook. The company stated that the revision reflects its financial position, capital management approach and operational performance.
Rating Details
Instrument Type | Size of Issue | Assigned Rating | Rating Action |
Issuer Rating | — | IND A/Stable | Affirmed; Outlook revised to Stable |
Bank Loan Facilities | ₹34.5 Cr | IND A/Stable/IND A1 | Assigned |
Bank Loan Facilities | ₹2,121.3 Cr | IND A/Stable/IND A1 | Affirmed; Outlook revised to Stable |
Commenting on the rating revision, Mr. Riju Jhunjhunwala, Chairman & Managing Director and CEO, RSWM Limited, said:
"The revision of our outlook to Stable reflects the strength of RSWM's business fundamentals, financial discipline, and resilience. We remain committed to driving sustainable growth while maintaining a prudent approach to capital allocation and balance sheet management.”
Mr. Rajeev Gupta, Joint Managing Director, RSWM Limited, said:
“This positive rating action is a recognition of our continued focus on operational excellence and financial prudence under the RSWM 2.0 initiative. We will continue to strengthen our market position through innovation, efficiency, and value creation for all stakeholders."