ERIS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
India Ratings and Research (Ind-Ra) has assigned and affirmed credit ratings for bank loan facilities of Eris Therapeutics Limited (ETL), a wholly owned subsidiary of Eris Lifesciences. The agency assigned IND AA/Stable/IND A1+ rating to INR 1,000 million new bank loan facilities and affirmed the same rating for INR 4,200 million facilities (reduced from INR 4,686 million). The ratings reflect strong parent-subsidiary linkages, with ELL providing corporate guarantees for ETL's debt. ETL reported standalone revenue of INR 7,589 million with EBITDA margin of 52% and net leverage of 0.8x in FY25. On a consolidated basis, ELL showed improved credit metrics with net leverage reducing to 2.2x in FY25 from 3.9x in FY24, supported by robust operating performance.
The stable outlook reflects sustained healthy operating performance and strong credit metrics. The ratings affirm the company's financial stability and may provide comfort to shareholders regarding the subsidiary's debt servicing capability.