Gujarat Fluorochemicals Limited has informed the Exchange about Credit Rating
FLUOROCHEM · price
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CRISIL has reaffirmed Gujarat Fluorochemicals' (GFCL) long-term rating at AA+/Stable and short-term rating at A1+ on total bank loan facilities of Rs. 3,000 crore. The rating on Rs. 50 crore of Non-Convertible Debentures was withdrawn following their full redemption on maturity. The reaffirmation is supported by healthy operating performance: revenue of Rs. 3,628 crore in 9M FY26 (vs Rs. 3,512 crore a year ago) and operating margin recovery to 27% from 23%. Full-year FY25 revenue stood at Rs. 4,737 crore with PAT of Rs. 546 crore. The financial risk profile remains strong with debt of ~Rs. 1,532 crore, interest coverage above 8x, and adjusted net debt/EBITDA expected to improve below 1.3x. Outlook stays Stable, though Q3FY26 was weak due to US tariffs, destocking, and R-22 production quota restrictions. The company plans ~Rs. 1,700 crore annual capex focused on new fluoropolymers and battery chemicals, supported by a recent Rs. 430 crore equity raise in subsidiary GFCL EV.
Stable ratings, improving margins, and deleveraging are positive signals for shareholders and reflect financial strength. The stock is unlikely to see rating-driven volatility, but investors should monitor the ramp-up of the new fluoropolymer and battery chemicals segments and the high ongoing capex commitments.