IFB Agro Industries Limited has informed the Exchange about Credit Rating
IFBAGRO · price
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Awaiting price reaction for this filing.
India Ratings and Research (Ind-Ra) has affirmed IFB Agro's existing credit ratings at 'IND A+/Stable' across its fund-based working capital limits (INR 450 million), term loans (INR 50 million, reduced from INR 100 million), and cash credit limits (INR 300 million). A new fund-based working capital limit of INR 350 million has been assigned the same rating. The standalone issuer rating was withdrawn at the company's request. Ind-Ra cited the company's healthy ~30% market share in West Bengal's country liquor segment, a net cash position of INR 1,792 million at FYE25, and improved alcohol segment profitability (EBITDA rebounded to INR 883 million in FY25 from INR 457 million in FY24) as rating strengths. Concerns include continued losses in the marine business, though a proposed acquisition of Cargill India's shrimp and fish feed business by July 2025 is expected to aid a turnaround in FY26.
The rating affirmation signals stable creditworthiness and continued financial discipline, likely neutral to mildly positive for the stock. The new INR 350 million working capital facility provides additional liquidity headroom for the upcoming Cargill feed business acquisition, which could materially improve the marine segment's profitability in FY26.