Pursuant to Regulations 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( ''the Regulations'') ....
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CARE Ratings Limited has reaffirmed Automobile Corporation of Goa Limited's (ACGL) credit ratings with no change in the rating itself. The long-term fund-based cash credit facility was reaffirmed at CARE AA-; Stable, while the short-term bank guarantee/letter of credit facility was reaffirmed at CARE A1+. However, the underlying facility amounts were adjusted: the long-term limit was reduced from ₹10 crore to ₹5 crore, while the short-term limit was enhanced from ₹3 crore to ₹8 crore. The reaffirmation is supported by ACGL's strong operational and managerial linkages with Tata Motors Limited (48.98% stakeholder), its net debt-free status, and healthy financial performance. FY25 total operating income grew 13% to ₹662.55 crore with PBILDT margin improving to 8.17%, and Q1FY26 continued the strong momentum with income of ₹260.75 crore. The outlook remains Stable.
Rating reaffirmation signals financial stability and continued creditworthiness for shareholders and lenders. The unchanged high ratings (AA-/Stable for long-term and A1+ for short-term) suggest no near-term concerns about the company's ability to meet obligations, though the company's heavy reliance on Tata Motors (~89% of revenue) remains a key concentration risk.