CARE has upgraded the credit rating of Shilchar to A-. The rating scan also mentions that it is expanding capacity by 3.5x.
“STL has undertaken an expansion project in order to increase its production capacity to 3.5 times (4000 MVA
annually) along with widening manufacturing capability range from 25 MVA/66 KV class to 40 MVA/132KV class”.
Interestingly, the 3.5x expansion is being undertaken without dilution of equity and should get completed by January 2018.
CARE rating Oct 2017.pdf (404.1 KB)