(i) Corporate Governance Rating
Havells in its endeavour to reinforce and test its commitment for Corporate Governance
opted to go for a Corporate Governance Rating from CARE. CARE has assigned CARE CGR 2+
[Two Plus] Rating to the Corporate Governance practices of the Company. The Corporate
Governance Rating reflects the Company’s transparent ownership structure, qualified and
experienced board of directors, satisfactory functioning of various committees of the board,
presence of prudent risk management policies and elaborate internal audit function.
Furthermore, the rating derives comfort from elaborate communications and disclosures to
shareholders, effective financial management and the Company’s compliance with statutory
and regulatory requirements.
(ii) Financial Facilities
- CARE has assigned a AAA [Triple A] rating to the long-term facilities of the Company during
the current financial year. This rating is applicable to facilities having a tenure of more than
one year. Instruments with this rating are considered to have the highest degree of safety
regarding timely servicing of financial obligations.
- CARE has also assigned CARE A1+ [A One Plus] rating to the short-term facilities of your
Company. This rating is applicable to facilities having a tenure upto one year. Instruments
with this rating are considered to have very strong degree of safety regarding timely payment
of financial obligations.