GP Petroleums Limited has informed the Exchange about Credit Rating
GULFPETRO · price
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India Ratings and Research (Ind-Ra) has affirmed GP Petroleums Limited's credit rating at 'IND BBB-' for long-term and 'IND A3' for short-term, with a Stable outlook. The rating applies to the fund-based and non-fund based working capital limit of INR 1,000 million, which has been reduced from the earlier sanctioned limit of INR 1,500 million. The rating action was taken on May 7, 2025. The company has shown improvement in credit metrics, turning net cash positive at INR 131 million in 9MFY25 with interest coverage of 19.9x, though revenue declined to INR 4,269 million in 9MFY25 from INR 6,552 million in FY24. The agency flagged concerns around ongoing promoter stake sales and stress at the parent GPF group level.
Rating affirmation signals stable creditworthiness for shareholders, but the IND BBB- rating sits just below investment grade, which may limit institutional interest. The reduced working capital limit and net cash positive position are positives, though continued promoter stake offloading and group-level restructuring remain key watch points that could pressure the stock sentiment.