Gokaldas Exports Limited has informed the Exchange about Credit Rating
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ICRA has upgraded Gokaldas Exports' long-term rating on its Rs. 20 crore term loan from [ICRA]A (Stable) to [ICRA]A+ (Stable), while reaffirming the short-term rating of [ICRA]A1 on working capital and non-fund based limits. The total sanctioned amount was enhanced from Rs. 626 crore to Rs. 847.2 crore, with working capital limits rising to Rs. 416 crore and non-fund based limits to Rs. 411.2 crore. The upgrade reflects the company's strong 63% revenue growth in FY2025 to Rs. 3,875.8 crore, improved leverage (net debt/OPBDITA down to 1x from 2.1x), and the benefits of its Rs. 600 crore QIP raised in April 2024. ICRA noted risks including high customer and geographic concentration (~77% revenue from North America), US tariff exposure, and a Rs. 275 crore corporate guarantee extended to BRFL Textiles.
This is a positive development for shareholders, signalling improved financial health and stronger creditworthiness, which could lower future borrowing costs. The rating upgrade may boost investor confidence, though risks from US tariffs and customer concentration remain watchpoints.