CARE Ratings stated that the ratings assigned to bank facilities of Prostarm Info Systems (PISL) factor in the promoters’ extensive experience in the power solutions industry, well-qualified management team, and established track record with reputed clientele across diversified sectors.
The ratings also derive comfort from PISL’s healthy profitability, a strong order book providing medium-term revenue visibility, comfortable financial risk profile, and adequate liquidity.
CARE Ratings also notes PISL’s listing on BSE and NSE from June 2025, post a successful initial public offer (IPO), which subsequently improved its financial risk profile.
However, ratings remain constrained by the company’s modest scale of operations in a highly competitive and fragmented industry and high working capital-intensity marked by elongated gross current asset (GCA) days resulting in negative cash flow from operations.
Prostarm Info Systems is engaged in designing, manufacturing, and selling energy storage and power conditioning equipment. PISL also trades in third-party batteries and power components and manages reverse logistics and disposal of old systems through buybacks. In 2018, PISL diversified into the solar EPC segment for rooftop solar photovoltaic (PV) projects. The company has a presence in 18 states and one Union Territory, with 22 branch offices and two storage facilities.
The scrip fell 2.57% to currently trade at Rs 200.75 on the BSE.