ICRA re-affirmed the rating of Company''s line of credit facilities.
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ICRA has re-affirmed the credit ratings on Goodricke Group's bank line of credit facilities on October 10, 2025. The long-term rating is [ICRA]A (Stable) and short-term is [ICRA]A2+, with a stable outlook on the long-term rating. Notably, the term loan facility has been fully repaid, reducing rated term loan amount from Rs. 4 crore to zero, while cash credit/WCDL limit stays at Rs. 155 crore and letter of credit/bank guarantee at Rs. 9 crore. Overall group debt has already declined by about Rs. 40 crore in the current fiscal, partly aided by the Rs. 44 crore sale of two tea gardens. Group OPBDITA swung from a Rs. 60 crore operating loss in FY2024 to about Rs. 42 crore in FY2025, though FY2026 profitability is expected to moderate to Rs. 30-35 crore due to softer bulk tea prices.
The rating reaffirmation with stable outlook signals continued creditworthiness and adequate liquidity, with the term loan fully prepaid reducing interest burden. However, shareholders should note that FY2026 earnings are expected to moderate due to pressure on bulk tea prices and wage-related cost risks in the tea industry.