SAMIL upgraded to Baa3 Stable / Investment Grade ratings by Moody's

Samvardhana Motherson International Limited (SAMIL) has been upgraded to Baa3 / Investment Grade with a stable outlook from Ba1 corporate family rating review for upgrade by Moody Ratings (Moody's). The ratings action and outcome concludes the review for upgrade as disclosed on 22nd April 2024.

The ratings action is based on the sound financial strategy and risk management reflected with the well diversified business model with enhanced size and scale and stronger financial metrics and well executed acquisitions strategy and meaningful contribution from recently integrated acquisitions.

Moody's in their press release (https://ratings.moodys.com/ratings-news/422693) highlighted improvements in SAMIL's, business profile with diversification planks playing out and profitability following recent acquisitions and free cash flow generation despite capital spending. Moody's expects SAMIL to maintain solid credit metrics and financial policies that are commensurate with an investment grade rating.

Further ratings for SAMIL wholly owned subsidiary, SMRP B.V has been upgraded to Baa3 / Investment Grade with a stable outlook from Ba1 corporate family rating review for upgrade. Please refer to the disclosure on SMRP B.V website available via - (https://smrpbv.com/investor-relations.html).

Shares of Samvardhana Motherson International Limited was last trading in BSE at Rs. 156.65 as compared to the previous close of Rs. 152.45. The total number of shares traded during the day was 2116296 in over 18680 trades.

The stock hit an intraday high of Rs. 158.00 and intraday low of 151.25. The net turnover during the day was Rs. 330099464.00.

Source : Equity Bulls

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