The agency has also affirmed the company’s short term rating at ‘ICRA] A1’.
ICRA stated that the reaffirmation of ratings considers Krsnaa Diagnostic Limited’s (KDL/ the company) established market position in the public-private partnership (PPP) diagnostic services segment and extensive experience of the promoter in the healthcare industry.
The ratings also factor in KDL’s healthy bid-win ratio for Government tenders. Coupled with the long contract tenor of 3-12 years (including renewal clauses) and captive patient footfalls (from the partnered hospitals), this ensures strong revenue visibility for the company.
Further, ICRA notes thatthe company is expanding its geographical presence with new contract wins in Assam, Uttar Pradesh, Maharashtra, Odisha, Rajasthan and Delhi...
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