Persistent Systems Achieves AA+ Credit Rating from ICRA Limited, Signifying Financial Resilience

Persistent Systems Achieves AA+ Rating from ICRA Limited

Persistent Systems, a leader in Digital Engineering and Enterprise Modernization, announced on January 21, 2025, that it has received an AA+ (Stable) credit rating from ICRA Limited. This recognition highlights the company's robust financial health, operational excellence, and sustained growth amid changing economic landscapes.

ICRA, renowned for its independent and professional evaluation, carried out a thorough analysis that included reviewing financial documents and extensive discussions with the senior management team. Their assessment considered several crucial factors like revenue growth, operational efficiency, capital structure, and liquidity. इस प्रक्रिया ने Persistent के वित्तीय स्थिरता और दीर्घकालिक स्थिरता की उनकी क्षमताओं को दर्शाया।

The key elements driving the AA+ (Stable) rating involve:

1. Experienced Leadership: The company boasts a leadership team with a proven operational record, reinforcing client relationships across diverse sectors.
2. Strong Revenue Growth: Persistent's well-diversified portfolio fuels significant revenue augmentation, supported by a healthy order book that ensures visibility and sustainability for future growth.
3. Robust Financial Health: The company's solid cash flow and capital structure highlight its fiscal stability, enabling it to grasp forthcoming opportunities effectively.

This rating not only affirms Persistent's business resilience but also enhances its credibility when pursuing opportunities with larger clients, who often prioritize financial robustness in their partner selection criteria. The elevated rating acts as a testimony to Persistent's reliable financial footing, enabling it to compete efficiently in the enterprise market.

Sandeep Kalra, Chief Executive Officer and Executive Director of Persistent, stated, "Achieving the AA+ (Stable) rating is a testament to our robust business fundamentals and operational excellence. This acknowledgment mirrors the trust we have garnered over years from our clients, shareholders, and employees. We are committed to maintaining our growth momentum through disciplined execution and innovation."

About Persistent Systems

With over 23,200 employees across 19 countries, Persistent Systems provides a broad range of services, including AI-enabled software engineering, product development services, data analytics, customer experience transformation, cloud maneuvering, and intelligent automation. The firm has been acknowledged as the "Most Promising Company of the Year" by CNBC-TV18 at the 2023 India Business Leader Awards. Notably, with a 327% surge in brand value since 2020, Persistent is recognized as the fastest-growing IT services brand in the 2024 Brand Finance India 100 Report. Its commitment to sustainability and responsible business practices has led to its achievement of carbon neutrality. A dedicated participant of the United Nations Global Compact, Persistent is steadfast in executing strategies aligning with universal principles concerning human rights, labor standards, environmental care, and anti-corruption.

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