Credit Rating Intimation Under Regulation 30 of LODR
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ICRA has reaffirmed the company's credit ratings at [ICRA]A+ (Stable) for long-term and [ICRA]A1+ for short-term facilities, while significantly enhancing the rated amount from Rs. 100 crore to Rs. 1,600 crore (Rs. 1,400 crore for bank lines and Rs. 200 crore for commercial paper). The ratings reflect the company's established 30+ year track record in capital markets, comfortable capitalisation strengthened by a Rs. 703 crore equity infusion from its September 2025 IPO, and adequate profitability with PBT/NOI of 26.2% in FY2026. Net worth grew to Rs. 1,348 crore with gearing improving to 0.6x from 2.3x. The company serves about 10 lakh clients across 98 branches and online platforms. The Stable outlook indicates ICRA expects the company to maintain its market position while growing its margin trading and distribution businesses.
The reaffirmation of investment-grade ratings with a 16x increase in borrowing capacity is a strong positive signal, indicating ICRA's confidence in the company's creditworthiness post-IPO. This expanded credit facility supports the company's growth plans in margin trading and financial product distribution, which should benefit shareholders.