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CRISIL has assigned its ratings of ‘P2’ to the various bank facilities of Vashi Electricals Pvt Ltd (Vashi Electricals). The ratings reflect Vashi Electricals’ healthy financial risk profile, marked by low reliance on bank loans, strong debt protection measures, and efficient management of inventory and debtors risks. These strengths are, however, partially offset by Vashi Electricals’ exposure to risks relating to cyclicality in end user industries, the company’s regional presence, and small scale of operations in a segment marked by intense competition.
About Vashi Electricals
Set up in 1978 as a partnership promoted by Mr. Madan Dodeja and Mr. Mohan Dodeja, Vashi Electricals was converted into a private limited company in 1990. The company trades in electrical equipment and goods, such as cables, motors, gearboxes and switchgears. It is an authorised distributor for large electrical equipment manufacturers, such as Siemens, Finolex, Bonfiglioli and Polycab. Vashi Electricals has a large diversified customer base among control panel builders, electrical contractors and original equipment manufacturers.
Vashi Electricals recorded a profit after tax (PAT) of Rs.40 million on net revenues of Rs.1.27 billion in 2007-08 (refers to financial year, April 1 to March 31), as against a PAT of Rs.34 million on net revenues of Rs.1.0 billion for 2006-07.
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Gurpreet S Chhatwal
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Manish Kumar Gupta
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