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CRISIL Ratings has upgraded ASM Technologies' long-term bank facility rating from 'CRISIL BBB/Stable' to 'CRISIL BBB+/Stable' with a stable outlook. The total rated bank loan facilities have been enhanced from Rs 32 crore to Rs 99.5 crore, comprising Rs 77 crore in cash credit and Rs 22.5 crore in term loan from lenders like ICICI Bank, SBI, IndusInd Bank, and Exim Bank. The upgrade reflects strong revenue growth, with operating income rising to Rs 393 crore in the first nine months of FY26 from Rs 174.3 crore in the same period of FY25, alongside an operating margin of around 19%. Networth is estimated to have nearly doubled to Rs 280 crore as of March 31, 2026, with healthy gearing of 0.54 times and interest coverage of 6-7 times. The company benefits from its promoters' experience, diversified service offerings across semiconductor, automotive, aerospace, and medical segments, and a comfortable financial risk profile.
Positive for shareholders — the rating upgrade signals improving business strength and financial health, while the tripling of sanctioned bank limits (from Rs 32 crore to Rs 99.5 crore) gives ASM Technologies much greater financial flexibility to fund growth and working capital needs, likely supportive of the stock's perception among investors.