Emerging Credit Rating Limited (hereinafter referred to as ECRL) has assigned BBB (pronounced as ‘Triple B’) long term credit rating and ST-3 short term credit rating to Bandbox Limited (hereinafter referred to as ‘the company’ or ‘BL’). The outlook of the rating is Stable. The rating is based on the audited financial statement of FY2019-FY2022 along with other qualitative and quantitative data up to the date of rating.