Capital First's debt instruments get ratings upgrade
DSIJ Intelligence / 07 Mar 2017
The Brickworks Ratings India has upgraded the ratings of the Capital First’s various debt instruments.
The Brickworks Ratings India has upgraded the ratings of the Capital First’s various debt instruments. The company’s existing and unutilised debt instruments, including secured non-convertible debentures and subordinated debt instruments, have been upgraded from BWR AA + to BWR AAA.
The rating agency has upgraded outlook from positive to stable. Further, the outstanding ratings of existing Perpetual Debts instruments (IPDI) have also been upgraded from BWR AA to BWR AA+.
On the financial front, Capital First’s revenue increased 47.53 per cent to Rs 717 crore in Q3FY17, as compared to the same period in previous financial year. The company’s operating profit also rose 31.55 per cent to Rs 389 crore in Q3FY17 on a yearly basis. Its net profit increased 33.16 per cent to Rs 55.73 crore in Q3FY17 on a YoY basis.
The share price of Capital First increased 0.58 per cent in early trade and is trading at Rs 632.35 on an intraday basis. The company's stock has given more than 64 per cent returns to its shareholders by way of capital gains in the last one year.
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