CARE Ratings upgrades ICL credit ratings on long and short term facilities

Rating UpgradedNew Credit FacilityCredit & Debt View source PDF

INTLCONV · price

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Price reaction · full curve 14 horizons · vs prior close

-1.1%1-day move

₹80.60

prior close

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AI summary

CARE Ratings has upgraded International Conveyors Limited's credit ratings. Long-term bank facilities of ₹24 crore upgraded from BBB- to BBB with Stable outlook, and another ₹25 crore facility upgraded from BBB- Stable to BBB Stable, with short-term component moving from A3 to A3+. Short-term facilities of ₹30.91 crore upgraded from A3 to A3+. A new ₹9.50 crore long-term facility was assigned BBB Stable. Upgrade driven by 44 percent revenue growth to ₹203.65 crore in FY26, PBILDT margin rising to 20.01 percent, and improved debt coverage. Gearing improved to 0.18x. Outlook remains Stable.

Likely market impact

Rating upgrade reflects stronger financial profile and may lower future borrowing costs. Positive signal for shareholders and lenders.