CARE reaffirms JCIL bank facility ratings; continues on developing watch
COCKERILL · price
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Awaiting price reaction for this filing.
CARE Ratings reaffirmed JCIL's bank facility ratings at CARE BBB/A3+ (₹347.5 crore), keeping 'Rating Watch with Developing Implications' first placed in Dec 2025. Watch relates to completed acquisition of 100% stake in John Cockerill Metals International SA (JCMI) for €29.6M (~₹320 crore); €5M cash due by Jun 2026, rest as interest-free promoter loan over 5 years. CY25 revenue ₹358 crore (down 8% YoY), PAT ₹7.3 crore vs loss prior year. Order book over ₹1,100 crore.
Rating unchanged but stays on watch pending clarity on JCMI acquisition's financial impact. Mildly uncertain for shareholders.