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22-Sep2016

CARE reaffirms ratings of Atishay's bank facilities

Credit rating agency, CARE has reaffirmed 'BBB' rating to Atishay's long term bank facilities worth Rs 5.20 crore. The rating agency has also reaffirmed 'A3+' rating to the company's short-term bank facilities worth Rs 4 crore. The ratings assigned to the bank facilities of Atishay continue to derive strength from healthy profit margins as well as comfortable capital structure and debt coverage indicators, although deteriorated marginally during FY16 (refers to the period April 1 to March 31). The ratings also take note of the company's generation of revenue from its newly established services from FY16 as well as commencement of operations from it's newly set-up hotel business from April 2016 onwards.

Atishay is an ISO 9001:2008 and ISO/IEC 27001:2005 certified company and has been executing the projects like electoral roll printing and electoral photo identity card for various state governments. It has been involved in projects such as Rashtriya Swasthya Bima Yojna (RSBY), Lok Seva Kendra (LSK) and digitisation of cadastral maps for Government of Madhya Pradesh.


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