ICRA upgrades Fineotex Chemical long-term rating to AA- Stable
FCL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ICRA upgraded Fineotex Chemical's long-term credit rating to AA- (Stable) from A+ (Positive), citing stronger scale and diversification after FY2026 acquisition of a 53.33 percent stake in US-based CrudeChem Technologies, which adds about USD 65 million in annual revenue. Short-term rating was reaffirmed at A1+. FY2026 consolidated revenue grew to Rs 772 crore from Rs 533 crore, with PAT of Rs 125 crore. The company has negligible debt and strong liquidity of Rs 363 crore in cash and investments.
Positive: stronger credit profile, lower borrowing costs, reflects robust growth and balance sheet strength post US acquisition.