We wish to inform that Acuite Ratings & Research Limited has assigned a credit rating of ACUITE BBB+ / Stable / Assigned as the Long Term rating for our Company.
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Acuite Ratings has assigned Afcom Holdings Ltd a long-term credit rating of BBB+ with a Stable outlook, marking the company's first formal credit rating. The rating reflects strong revenue growth — operating income rose 62% to Rs.238.72 crore in FY25, with H1FY26 already at Rs.240.29 crore and full-year FY26 expected at Rs.490-510 crore. The air cargo carrier maintains a healthy financial profile with net worth of Rs.220.37 crore, very low debt of Rs.26.05 crore (gearing of just 0.12x), and strong interest coverage of 20.75x. The company recently raised Rs.104.48 crore in equity in December 2025 to fund four additional freighters planned for FY27.
A BBB+ investment-grade rating with stable outlook signals solid creditworthiness and should support better borrowing terms going forward, though the rating comes with no debt-funded expansion plans currently. For shareholders, this positive rating assessment validates the company's growth trajectory and financial discipline post its 2024 IPO.