The credit ratings on the Bank facilities of the Company have been reaffirmed by the Rating Agency CRISIL at 'CRISIL A/Stable' for long term borrowing and 'CRISIL A1' for short term borrowings. The ratings continue to reflect a leading market position in the domestic rotary switches market and an adequate financial risk profile. These strengths are partially offset by working capital-intensive operations and exposure to intense competition in the electrical cables industry.