Ind-Ra assigns PRESPL BBB-minus with stable outlook ANI | Updated: Jan 12, 2021 14:54 IST
Mumbai (Maharashtra) [India], January 12 (ANI): India Ratings and Research (Ind-Ra) has assigned Punjab Renewable Energy Systems Pvt Ltd (PRESPL) a long-term issuer rating of BBB-minus with a stable outlook.
The company operates in biomass industry which is a carbon-neutral source of energy. It is supported by various government initiatives for reducing carbon emissions and lowering the dependence on non-renewable resources.
Its consolidated revenue was modest despite improving to Rs 34.2 crore in FY20 due to the improved sale of steam which constituted 69 per cent of total revenue. During 7M FY21, the company achieved a revenue of Rs 32 crore with 40 per cent contribution from the sale of steam.
Mumbai (Maharashtra) [India], January 12 (ANI): India Ratings and Research (Ind-Ra) has assigned Punjab Renewable Energy Systems Pvt Ltd (PRESPL) a long-term issuer rating of BBB-minus with a stable outlook.
The company operates in biomass industry which is a carbon-neutral source of energy. It is supported by various government initiatives for reducing carbon emissions and lowering the dependence on non-renewable resources.
Its consolidated revenue was modest despite improving to Rs 34.2 crore in FY20 due to the improved sale of steam which constituted 69 per cent of total revenue. During 7M FY21, the company achieved a revenue of Rs 32 crore with 40 per cent contribution from the sale of steam.