Fitch rates Antelec BBB-(ind)

Fitch Ratings said it assigned Antelec Pvt. Ltd. a national long-term rating of BBB-(ind), along with a rating of BBB-(ind) to its fund-based limits of Rs. 5.5 million and F3(ind) to its non-fund based limits of Rs. 180 million.

The outlook is stable.

The ratings reflect Antelec's robust revenue growth, growing profitability and established reputation as an electrical contractor in the market, Fitch said.

The ratings are constrained by the company's presence in the construction and related sectors, which could increase its working capital cycle in future, the agency said.

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