ERIS · price
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India Ratings and Research (Ind-Ra) has affirmed Eris Lifesciences' Long-term Issuer Rating at IND AA/Stable. The ratings on Non-convertible Debentures (INR 12,500 million) and bank facilities (INR 11,980 million) were also affirmed at IND AA/Stable with short-term rating IND A1+. The rating affirmation reflects the company's sustained healthy operating performance with EBITDA improving to INR 8.5 billion in 9MFY26 (9MFY25: INR 7.6 billion). Net leverage improved significantly to 2.2x in FY25 from 3.9x in FY24, and is expected to drop below 1.5x in FY27. The company improved its Indian pharmaceutical market ranking to 19th from 22nd, with strong positions in anti-diabetic (5th) and dermatology (5th) segments.
The stable outlook and rating affirmation indicate creditworthiness is intact. Shareholders can view this positively as the company's improving leverage and strong EBITDA margins support financial stability. No immediate impact on stock price expected from this routine affirmation.