Intimation of Credit Rating as per Annexure Attached.
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Infomerics Valuation and Rating Limited has reaffirmed Indian Sucrose Limited's credit ratings for its bank facilities totaling Rs. 200 crore. Long-term bank facilities of Rs. 180.59 crore have been rated IVR BBB- with Stable Outlook, while short-term facilities of Rs. 19.41 crore have been rated IVR A3. The rating agency cited the company's improving scale of operations with 7.21% CAGR over 3 years, healthy profitability (EBITDA margin at 13.42%, PAT margin at 6.85% in FY25), comfortable capital structure (gearing improved to 0.87x from 1.64x), and adequate debt coverage indicators. The company operates a sugar manufacturing unit with 9000 TCD capacity and a 59.50 MW power cogeneration plant in Punjab, generating Rs. 545.69 crore in revenue during FY25.
The reaffirmation of investment-grade ratings with stable outlook is positive for shareholders as it indicates the company's credit profile remains stable with improving financials. The rating history shows an upgrade from BB+ to BBB- in early 2024, and the current reaffirmation suggests continued financial stability, which could support easier access to bank financing and potentially lower borrowing costs.