Persistent Systems Achieves Prestigious AA+ Credit Rating From ICRA Limited

Persistent Systems Achieves AA+ (Stable) Rating from ICRA Limited

Persistent Systems, a prominent name in the fields of Digital Engineering and Enterprise Modernization, proudly announces its attainment of an AA+ (Stable) rating from ICRA Limited, a well-respected independent credit rating agency in India. This notable recognition is a testament to the company's solid financial performance, operational excellence, and resilience amidst varying economic conditions.

ICRA’s comprehensive evaluation process involves an in-depth analysis of the company’s financial statements, discussions with senior leadership, and a thorough review of business performance. Notably, factors including revenue growth, operational efficiency, capital structure, and liquidity were meticulously assessed. The AA+ (Stable) rating not only reinforces the company's strong financial standing but also boosts confidence among stakeholders, ensuring continued growth momentum.

Sandeep Kalra, the CEO and Executive Director of Persistent, expressed his pride in achieving this prestigious rating. He emphasized that this recognition reflects the trust that has been built through years of commitment to operational excellence, client satisfaction, and robust business fundamentals. Underlining the company’s strategic vision, he stated, "We will continue to drive top-quartile industry performance through disciplined execution, innovation, and global expansion."

This top-tier credit rating will serve as an important asset for Persistent as it engages larger clients who prioritize financial stability among their vendor selection criteria. As a result, the AA+ recognition opens avenues for securing more strategic partnerships and expanding its presence in the enterprise sector.

Persistent Systems boasts a diverse customer base across multiple industries, which is one of the key components for its sustainable revenue growth. The company’s healthy order book, featuring a blend of large and mid-sized deals, indicates consistent revenue visibility amidst the dynamic marketplace. Additionally, a robust financial profile characterized by healthy cash flows and a strong capital structure further solidifies the company’s position for sustained growth.

Persistent boasts a workforce of over 23,200 employees globally and operates in 19 countries. The company is committed to pushing the boundaries of innovation and delivering exceptional value to clients. In recognition of its contributions to the industry, Persistent was named the "Most Promising Company" of the Year at the 2023 India Business Leader Awards, reflecting its commitment to excellence and leadership within the sector.

Furthermore, Persistent has taken significant strides toward sustainability, proudly achieving carbon neutrality and participating in the United Nations Global Compact. This alignment with universal principles regarding human rights, labor, and environmental standards showcases the company's dedication to responsible business practices. With an incredible 327% increase in brand value since 2020, Persistent has emerged as the fastest-growing IT service brand as reported in the 2024 Brand Finance India 100 Report.

In conclusion, the AA+ rating received from ICRA Limited is not merely a numeric representation but rather an affirmation of Persistent Systems' established operational strengths, strategic focus, and commitment to nurturing stakeholder trust and value. Moving forward, the company is poised to leverage this endorsement to fuel further growth and innovation, solidifying its place as a leader in the digital engineering landscape.