Biocon Limited has informed the Exchange about General Updates
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CRISIL has reaffirmed Biocon's credit ratings on its Rs 250 crore bank facilities, keeping the long-term rating at AA+/Stable and short-term at A1+. In FY25, Biocon posted revenue of Rs 15,262 crore (up 3% year-on-year) with EBITDA margin of 20.7%, down from 22.2% in FY24. Revenue is diversified across biosimilars (58%), contract research services (23%) and generics (19%). The company is raising up to Rs 4,500 crore via QIP (launched June 16, 2025) to prepay debt and bring down leverage. Total debt stood at Rs 17,756 crore as of March 31, 2025, with net debt/EBITDA at 4.1x, expected to improve to below 3.5x after the QIP. Biocon has strong liquidity with Rs 4,926 crore in liquid surplus and cash accrual projected at Rs 2,500-3,000 crore in FY26.
The rating reaffirmation with stable outlook signals that Biocon's credit quality remains intact despite high leverage and modest margin pressure. The Rs 4,500 crore QIP is a key positive for shareholders as it aims to meaningfully cut debt, strengthen the balance sheet, and support future growth. Investors should watch for successful closure of the QIP and progress on BBL's potential IPO or merger, which could be additional triggers for value unlocking.