CCL Products (India) Limited has informed the Exchange about Credit Rating- Revision
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
India Ratings & Research has revised the outlook on CCL Products (India) Limited and its bank loan facilities to Stable from Negative while affirming the rating at 'IND AA-'. The revision reflects the company's steady capacity ramp-up over FY24-FY26, which led to a 25% increase in EBITDA to INR 5,550.92 million in FY25 and improved net leverage to 3.09x. Revenue grew 17% to INR 31,057 million in FY25, with 9MFY26 revenue at INR 32,329 million (up 42% yoy). The agency expects further improvement in credit metrics over the medium term as the company completes its capex cycle, reduces reliance on working capital borrowings, and benefits from limited future capex plans.
This is a positive development for shareholders as the outlook revision from Negative to Stable signals improved creditworthiness. The AA- rating with Stable outlook indicates lower default risk and may improve the company's borrowing costs, supporting margins.